The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has emphasised that Ghana’s current economic challenges are not locally generated but from external shocks.
Contrary to the narrative from some opposition elements that Ghana is facing challenges due to bad policies of the Akufo-Addo administration, the IMF boss stressed that the factors contributing the country’s economic woes are exogenous.
Madam Kristalina Georgieva stated these during the Fund’s engagements with the Ghanaian delegation on the sidelines of the Africa Adaptation Summit, in Rotterdam, Netherlands.
“We’ve started very constructive discussions already and to the people of Ghana, like everybody on this planet, you have been hurt by exogenous shocks” she said.
The IMF Managing Director mentioned the extraneous factors which have contributed to Ghana’s economic woes leading to the West African country seeking a bailout from the IMF.
“First the pandemic, then Russia’s war in Ukraine, and that we need to realize is not because of bad policies in the country but because of these combination of shocks, and, therefore, we have to support Ghana”.
She also indicated that Ghana is a member of the IMF, a strong country with fantastic people, they have to lend the country support.
Madam Kristalina Georgieva also stated that “but also we have to support Ghana because your strength contributes to the strength of your neighbours, it contributes to a stronger world”.
Ghana is before the IMF for US$3 billion to help the country navigate through the hostile economic crisis it finds itself in as a result of the adverse effects of the deadly coronavirus pandemic and the ongoing conflict between Russia and Ukraine.
Opposition elements have, on many occasions, disputed these facts, claiming the crisis is the resultant effect of the bad policy choices of the Akufo-Addo administration.
The IMF boss, by her assertions, has trounced that assertion by the opposition National Democratic Congress (NDC).
