THE International Monetary Fund (IMF) has hailed the latest announcement of an agreement reached by Ghana and its official creditors to restructure the country’s external debts.
Managing Director of the Fund, Ms Kristalina Georgieva has announced the Executive Board of the Fund will “in the next few days,” consider the first review of Ghana’s three-year Extended Credit Facility programme.
“This agreement clears the path for IMF Executive Board consideration of the first review of Ghana’s three-year Extended Credit Facility Arrangement in the next few days. I look forward to continuing our fruitful collaboration with Ghana” She said in a statement
The statement welcomed the announcement saying the move was consistent with the objectives of the IMF-supported programme, “which aims to restore macroeconomic stability and debt sustainability, build resilience, and lay the foundations for stronger and more inclusive growth.”
“I want to thank the Official Creditor Committee, especially the co-chairs, China and France, for all their work to reach this agreement. This is another substantial milestone for the G20 Common Framework under which G20 creditors joined forces to agree on debt relief for Ghana,” the statement said.