Kristalina Georgieva, the managing director of the International Monetary Fund (IMF), is hopeful that the fund’s Executive Board would quickly provide final approval to Ghana’s bailout request.
At the present World Bank/IMF Spring Meetings in Washington, D.C., the Managing Director revealed that the growing support that the nation was receiving from the international community, including its creditors, was the reason for her optimism.
While speaking to journalists at the Fund’s Spring Meeting on Thursday, she disclosed that her outfit is urging the bilateral creditors to swiftly offer the financial certainty required for the board to ratify the arrangement.
“We have been urging Ghana’s creditors to act swiftly. A country that has a long track record of sound macroeconomic management ought to be supported to return to markets. To tell you the truth, I am optimistic that we are going to move swiftly and so stay positive,” she said.
Ghana needs a deal to stabilise the cedi further, contain inflationary pressures and tap into the international capital market for loans to fund development. It would be the country’s 17th bailout programme after joining the IMF in September 1957.
