The International Monetary Fund (IMF) has emphasized the significance of Ghana adhering to the support program it is currently implementing over the next three years.
Director of the African Regional Department at the IMF, Abebe Aemro Selassie, stressed the importance of Ghana’s full implementation of the program while addressing the press.
Selassie highlighted the necessity for Ghana to fully implement the program, indicating that the IMF will maintain its support for the country only in alignment with the implementation of the program.
“What I can say is that going forward would be really really important that Ghana continues to implement the programme that they have developed as envisaged. That is really critical”.
“These programmes are designed to be implemented over three to four years. And it is important that you stick…Ghana’s sticks the course and see the programme being implemented over the next three years. So, we look forward to continuing to support Ghana, consistent with program implementation”, he explained.
He emphasized that official creditors have indicated their willingness to provide debt relief in line with Ghana’s requirements. He assured support from his organization to ensure that Ghana avoids prolonged negotiations with external creditors due to their insistence on equal terms.
The government is actively engaged in negotiations to finalize a deal with bilateral and commercial creditors for debt restructuring. However, there are concerns that the insistence on equal treatment for all creditors could prolong the process and have adverse effects on Ghana’s program and economy.
Ghana has already received a $1.2 billion bailout package from the IMF as part of the three-year program.