We stand with Ghana in its economic reform program - IMF Boss

The program is designed to address the country’s fiscal and external imbalances, strengthen the financial sector, and promote inclusive growth.

On Wednesday, the Executive Board of the International Monetary Fund approved Ghana’s plea for a $3 billion bailout, specifically designed to breathe life into the nation’s ailing economy.

Expressing her delight in a tweet, Mrs. Georgieva disclosed the Fund’s readiness to support the government in implementing reforms to address the economic and financial crisis that has befell the country.

“Congratulations to President Nana Addo Dankwa Akufo-Addo and his team on the $3 billion IMF-supported program approved by our Executive Board.

“We stand with Ghana as it implements reforms to address the current economic and financial crisis and help build a better future for all Ghanaians,” she tweeted.

According to the IMF Boss, the program is only the first step towards restoring Ghana’s economic stability.

“Today’s decision is also a major milestone for the G-20 common framework. The commitment by the Official Creditors Committee to help make Ghana’s debt sustainable was essential for the approval of the Funds program and it signals important progress. 

“The decision our board has taken is the beginning of the work we will do together with the authorities of Ghana for the implementation of the program for the benefit of the people of Ghana.”

Ghana has received an amount of $600 million from the International Monetary Fund (IMF), the first tranche of the $3 billion bailout package.