IMF boss arrives in Ghana for crunch meetings

The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has arrived in Ghana on her first official visit.

She was accompanied by the Director of the Africa Department at the Fund, Abebie Selassie, the IMF Mission Chief for Ghana, Stéphane Roudet, and other officials.

She will hold talks with President Nana Addo Dankwa Akufo-Addo and Vice President, Dr. Mahamudu Bawumia.

Madam Georgieva will also meet with the Minister of Finance, Dr. Mohammed Amin Adam, and the Governor of the Bank of Ghana, Dr. Ernest Addison.

On Monday, March 18, 2024, she will attend an Artificial Intelligence (AI) conference jointly organised by the Ministry of Finance and her organisation, the International Monetary Fund, under the theme, “AI as a Catalyst to Transform Economies in Sub-Saharan Africa.”.

As part of her visit, Madam Georgieva will also be meeting with selected civil society organizations (CSOs) and women’s groups.

In 2023, Ghana secured a $3 billion IMF extended credit facility (ECF) after President Akufo-Addo, on July 1, 2022, authorised the Minister of Finance then, Ken Ofori-Atta, to commence formal negotiations with the IMF to secure a balance of payment support.

This was part of broader efforts to quicken Ghana’s buildback in the face of challenges induced by the COVID-19 pandemic and the geopolitical armed conflict between Russia and Ukraine.

Ghana’s three-year IMF programme is in its first year of implementation, with the nation receiving a total of $1.2 billion from the IMF in two payment tranches of $600 million each so far.