IMF managing director Kristalina Georgieva/ Photo Credit: AFP
IMF managing director Kristalina Georgieva/ Photo Credit: AFP

The International Monetary Fund (IMF) has assured Ghana that it will move fast and do much as it can to support the country come out of the economic challenge it finds itself.

In a press briefing ahead of the G20 Meeting, the Fund said it supported Ghana before and during Covid-19 pandemic and will continue to do same.

Gerry Rice of the Communication Department said “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 in terms of speed with our emergency financing, with our direct debt relief and, of course, there was the SDR allocation less than a year ago”.

“So, you know, we’re doing as much as we can, looking to do as much as we can, Shabtai, and I’m sure you’re watching almost, you know, on a week-by-week, and sometimes day-by-day basis”, he pointed out.

“There’s plenty of action, plenty of support going to countries from the IMF just in recent days. Moldova, the $171 million to Senegal, the $456 million to Mozambique, the $638 million recently to Benin. And, of course, emergency financing through our facilities can still be provided when members face urgent balance of payment problems and, what we call, and upper-traded trench regular programme is either not feasible or not necessary”, he stressed.

“But just to say, this is not a static situation, we’re really moving every day, and I’ve just given a few examples there of the types of support we’ve been providing”, he added.

Ghana last week requested for an IMF programme to support its homegrown economic programme.

An IMF mission subsequently visited the country from July 6th to July 13th to ascertain the true state of the economy.

It issued a comprehensive statement on Ghana and expected to expedite action on the economic support for the country.