The Governor of the Bank of Ghana (BoG), Dr Ernest Addison has said the International Monetary Fund’s review of internal debt policies must ensure that changes are impactful and achieve their intended purpose.
He stressed the need for the International Monetary Fund to keep all financing options on the table,
including the use of its internal resources.
Speaking at the 2024 African Consultative Group meeting with the managing director of the IMF, Kristalina Georgieva at the IMF headquarters on Tuesday (16 April), commended the IMF boss for her support to Africa.
“Let me first express my heartfelt gratitude to the managing director, Madam Kristalina Georgieva, for your excellent leadership, and your strong support for Africa. Madam MD, Africa continues to face complex challenges against the backdrop of successive shocks, manifesting in a subdued post-pandemic recovery, elevated debt distress, and a persistent funding squeeze, that have amplified income divergences and undermined the achievement of sustainable and inclusive growth.”
“… We restate our request for further enhancements to the G20 Common Framework while leveraging the Global Sovereign Debt Roundtable (GSDR) to promote rapid, transparent, and equitable resolution of debt as well as facilitate debt cancellation for the most vulnerable members.”
“The review of the Fund’s internal debt policies is welcome, but we stress the need to ensure that the changes are impactful and achieve their intended purpose,” Addison said.
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