<\/p>\n
The Director of the Communications Department of the International Monetary Fund (IMF), Gerry Rice has reiterated how badly Ghana\u2019s economy has been hit by the Russia-Ukraine war as well as the Covid-19 pandemic.<\/p>\n
Responding to criticisms of the IMF\u2019s assessment of Ghana\u2019s economy by former President John Dramani Mahama at a press briefing, Mr. Gerry Rice re-emphasized that the country\u2019s plight has been worsened by the Russia-Ukraine war as it had already injected a lot of fiscal power into the pandemic.<\/p>\n
\u201cI would say, as just to repeat, the war in Ukraine has triggered a global economic shock that\u2019s hitting Ghana and, as I said, many other countries, and all at a time when, for many of these countries, their room for fiscal maneuver, if I could put it that way, is already extremely limited because they\u2019ve used a lot of fiscal power already in the pandemic.\u201d<\/p>\n
He noted that the shock coming from the war in Ukraine compounds other pressing policy.<\/p>\n
\u201cAnd we\u2019re very cognizant of that. And that\u2019s why we are, as I described at the beginning, stepping up to help countries where we can, and that includes Ghana.\u201d<\/p>\n
Mr. Gerry Rice further indicated that the IMF\u00a0team will revisit the country in the coming weeks.<\/p>\n
\u201dI don\u2019t have a date for you, but [it will be] in the coming weeks,\u201d he added.<\/p>\n
Ghana returned to the IMF for support after months of struggle with the economy and a cost of living crisis.<\/p>\n
Ghana is expecting $3 billion from the IMF.<\/p>\n