Ghana has received assurances from the International Monetary Fund (IMF) that it will act quickly and do everything in its power to help the nation overcome its current economic difficulties.
In a news conference held prior to the G20 Meeting, the Fund stated that it had helped Ghana both before and during the Covid-19 outbreak and would do so going forward.
“Just a reminder that in this crisis [Covid-19] over the last couple of years, we have moved faster in an unprecedented way for the IMF with our emergency financing, with our direct debt relief, and, of course, there was the SDR allocation less than a year ago,” said Gerry Rice of the Communication Department.
Shabtai, I’m sure you’re monitoring nearly, you know, on a week-by-week, and sometimes day-by-day basis, so, you know, we’re doing as much as we can, striving to do as much as we can, he said.
“The IMF has recently taken a lot of action and provided a lot of help to various nations. Moldova, Senegal, Mozambique, and most recently, Benin, each received $171 million, $456 million, and $638 million respectively. And, of course, emergency funding may still be offered through our facilities to members who are experiencing immediate balance-of-payment issues when an upper-traded trench regular program is either impractical or unnecessary, he said.
To clarify, he said, “I’ve just provided a few instances there of the sorts of help we’ve been offering. This is not a static position, we’re actually moving every day.
Ghana this week asked the IMF to support its domestic economic policy with a program.
Then, from July 6 to July 13, an IMF team came to the nation to assess the economy’s real status.
It made a thorough declaration about Ghana and anticipated moving quickly to help the nation economically.