Ghana’s impressive reform under its current Extended Credit Facility (ECF) with the International Monetary Fund (IMF) has received commendation from the Fund’s Managing Director, Kristalina Georgieva.
Madam Georgieva, during a brief engagement with President John Dramani Mahama, on the sidelines of the African Forward Summit in Nairobi, Kenya, made the disclosure, where she said Ghana’s macroeconomic stability stride is worth commendation.
She expressed the Bretton Wood Institute’s availability to support Ghana, while stressing the need for the West African nation to maintain momentum in challenging the global environment.
The IMF boss has strongly backed Ghana’s Extended Credit Facility, saying its success encourages other countries in the region to turn to the IMF for support when in need.
Ghana is currently working to complete its programme with the Fund by August this year.
Ghana’s current 3-year US$3 billion Extended Credit Facility programme with the IMF was officially approved by the Fund’s Executive Board in May 2023. The programme followed staff-level agreements reached to stabilise the economy after a severe financial crisis.
Ghana passes Fifth review of extended credit facility with IMF
