IMF Boss asks Ghana to commit to review process

stacey

April 18, 2016 8:49 AM

The Managing Director of International Monetary Fund (IMF), Mrs. Christine Lagarde has advised Ghana to commit to passing all the reviews by the Fund in order to help the country restore market confidence.

The Managing Director of International Monetary Fund (IMF), Christine Lagarde, has said if Ghana is able to implement the conditions under its programme it will shore up market confidence.

She advised Ghana to commit to passing all the reviews by the Fund in order to help the country restore market confidence.

Ghana signed up to a three-year programme with the IMF in April last year, and the government had expected that the programme will help improve economic stability, promote growth, reduce budget deficit and confront the lack of confidence in the economy.

But it looks like all efforts have not yielded any gain since the country is still struggling to strike confidence in investors for over a year now.

The situation has been compounded by the upcoming elections in November, which has heightened economic uncertainty.

Christian Lagarde told Accra based Joy Fm that implement the conditions will better Ghana’s economic future.

“For any country under a current programme, to actually deliver under the programme, go through the review one after the other. It’s probably the best response to market concerns about the stability and macroeconomic policies decided by the country”.

Touching on the slump in commodity prices she said it might be good for Ghana to look at diversifying its economy.

stacey