{"id":1207117,"date":"2022-09-19T13:44:08","date_gmt":"2022-09-19T13:44:08","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/09\/19\/we-stand-by-our-mds-comments-on-ghanas-economy-major-drivers-are-covid-19-russian-ukraine-war-imf\/"},"modified":"2022-09-19T13:44:08","modified_gmt":"2022-09-19T13:44:08","slug":"we-stand-by-our-mds-comments-on-ghanas-economy-major-drivers-are-covid-19-russian-ukraine-war-imf","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/09\/19\/we-stand-by-our-mds-comments-on-ghanas-economy-major-drivers-are-covid-19-russian-ukraine-war-imf\/","title":{"rendered":"We stand by our MD\u2019s comments on Ghana\u2019s economy; major drivers are Covid-19, Russian\/Ukraine war \u2013 IMF"},"content":{"rendered":"

<\/p>\n

\n

The International Monetary Fund (IMF) has backed claims by its Managing Director, Kristalina Georgieva, on the current state of the Ghanaian economy and its major causes.<\/p>\n

The Fund\u2019s Director of Communications, Gerry Rice, at a press conference maintained that just like any other economy, the current Ghanaian economy has been pressed very hard by developments in Ukraine as well as Covid-19 shocks.<\/p>\n

He, therefore, believes the country\u2019s current situation has been compounded by development which can be described as external shocks.<\/p>\n

Mr Rice said this while responding to a question by a journalist during a virtual press conference.<\/p>\n

Question<\/strong>: And then also, on Ghana, same thing, only there\u2019s criticism by former President Mahama of the IMF seeming to praise, to say that the economic problems there, are entirely results of Covid-19 and the Ukraine war, and seeming to praise the government. I guess maybe that\u2019s just diplomacy, but can you address that criticism and then, finally smaller country?<\/p>\n

Mr Rice said, \u201cI would say, as just to repeat, the war in Ukraine has triggered a global economic shock that\u2019s hitting Ghana.<\/p>\n

\u201cFor many of these countries, their room for fiscal manoeuvre, if I could put it that way, is already extremely limited because they\u2019ve used a lot of fiscal power already, firepower already in the pandemic.\u201d<\/p>\n

He added \u201cso, the shock coming from the war in Ukraine compounds other pressing policy challenges. And we\u2019re very cognisant 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

What IMF Managing Director said about Ghana<\/strong><\/p>\n

The IMF Managing Director in a recent interview with JoyNews\u2019 Benjamin Akapko on the sidelines of the Africa Adaptation Summit in Rotterdam Netherlands maintained that the current challenges facing Ghana cannot be attributed to bad policies by government, but rather external shocks like Covid-19 and developments in Russia and Ukraine.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The International Monetary Fund (IMF) has backed claims by its Managing Director, Kristalina Georgieva, on the current state of the Ghanaian economy and its major causes. The Fund\u2019s Director of Communications, Gerry Rice, at a press conference maintained that just like any other economy, the current Ghanaian economy has been pressed very hard by developments […]<\/p>\n","protected":false},"author":1,"featured_media":1207025,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[3379,261,3951,1963,250,3074,1459,25959,17761,2621,4071],"class_list":["post-1207117","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-comments","tag-covid19","tag-drivers","tag-economy","tag-ghanas","tag-imf","tag-major","tag-mds","tag-russianukraine","tag-stand","tag-war"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1207117","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1207117"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1207117\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1207117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1207117"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1207117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}