IMF says Ghana is in the right direction -Ofori-Atta

Ken Ofori-Atta, the Minister for Finance, has said the International Monetary Fund has noted that Ghana is moving in the right direction in terms of managing its national debt.

Speaking at the Minister’s Press Briefing on Thursday (12 May 2022), Ofori-Atta said: “… the question then becomes whether the Fund [IMF] has the resources that we require to really inoculate a programme for the debt. And that’s a question that is hanging … but we have committed to not going back to the Fund because, in terms of policy, we are right there and the Fund notes that we are completely in the right direction.

“And so, the issue is validating the programme that we have put in place and then, in my view, supporting us to find alternative ways of refinancing our debt, reprofiling it without needing to be with the Fund.”

He added, “I think there’s a general acknowledgement that that should be the first port of call, and we are doing it.”

Ofori-Atta also emphasised the Government of Ghana’s resolve not to return to the IMF for support to deal with the challenges that the Ghanaian economy is going through.