Kristalina Georgieva says the International Monetary Fund is ready to help Ghana stabilize its flagging economy.
The IMF Managing Director noted in a tweet that the IMF is ready to support Ghana to lay the ground for stronger growth.
She has already held talks with Finance Minister Ken Ofori-Atta.
She posted on Twitter “Constructive meeting with Finance Minister Ofori-Atta and his team on Ghana’s economic challenges and the way forward. We are ready to do our part to help the authorities stabilize the economy, lay the ground for stronger growth and help the most vulnerable.”
The IMF concluded a fact-finding mission to Ghana in July in which it met with key stakeholders like the Vice President, Finance Minister, and the Bank of Ghana.
Ghana has recently been downgraded by Fitch Ratings from B- to CCC and expects a deal with the IMF to be in place within six months.
The country’s inflation rate hit 31.7 percent in the month of July 2022 and the Ghana government is seeking $3 billion from the Fund to stabilize the economy.
Ghana’s government has consistently blamed the current crisis on the COVID-19 pandemic and the Russia-Ukraine war.