The President of the International Monetary Fund, Kristalina Georgieva, has emphasized that Ghana’s current economic challenges are not locally generated but from external shocks.
Speaking on the sidelines of the Fund’s engagements with the Ghanaian delegation, Kristalina Georgieva stated, contrary to the narrative from some opposition elements, that Ghana is not in these challenges because of any bad policies of the Akufo-Addo administration. She stressed that the factors are exogenous.
“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.
She 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.
She 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 Chief, by this interview, has trounced that assertion by the opposition National Democratic Congress.