Support Ghana, others to restructure debt – IMF appeals to developed nations

Managing Director of the International Monetary Fund, Kristalina Georgieva has reiterated its plea on wealthier countries to support Ghana and other weaker economies from the ravages of debt.

According to her, the fund and wealthier countries must work together to ensure vulnerable countries like Ghana are able to restructure their debts to mitigate the effect on people and livelihoods.

Speaking ahead of the 2023 IMF and World Bank Spring Meetings in Washington DC-USA, the IMF boss on April 10 said, “developed economies must also commit more resources to the fund’s Poverty Reduction and Growth Trust (PRGT) – a concessionary lending window for low-income countries (LICs) – to help strengthen the global response to debt vulnerabilities”

The call by the IMF Managing Director comes after the Fund has witnessed a $1.6 billion shortfall in funding due the economic headwinds which has seen debt distressed countries like Ghana be at the highest in terms of funding.



MA/FNOQ