Ghana is doing well, $600m disbursement possible in November – IMF Boss

Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), has expressed a positive outlook on Ghana’s economy, acknowledging a substantial improvement in the country’s economic standing over the last month.

Ghana recently received a $3 billion IMF support package. The country is presently undergoing its inaugural programme review, with the review’s conclusion scheduled for November.

In an interview, Georgieva also discussed the progress made by Zambia and Ghana, both of which faced debt defaults but are now making strides under their respective IMF programs.

Additionally, she advised Tunisia that while immediate restructuring might not be necessary, it should take prompt measures to fortify its economy.

Georgieva expressed her strong hope for the disbursement of a $600 million second tranche of IMF funds, slated for November, underscoring its significance in fostering confidence in Ghana’s economic stability.

“Ghana is doing actually quite well. You have seen that their position has improved over the last month, and the economy is in a much better place. I would very much hope that we can have the disbursement,” she said referring to a $600 million tranche of IMF money.

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