{"id":241868,"date":"2024-10-30T08:09:15","date_gmt":"2024-10-30T08:09:15","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/10\/30\/imf-affirms-commitment-to-ensure-ghanas-recovery-remains-strong\/"},"modified":"2024-10-30T08:09:15","modified_gmt":"2024-10-30T08:09:15","slug":"imf-affirms-commitment-to-ensure-ghanas-recovery-remains-strong","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/10\/30\/imf-affirms-commitment-to-ensure-ghanas-recovery-remains-strong\/","title":{"rendered":"IMF affirms commitment to ensure Ghana\u2019s recovery remains strong"},"content":{"rendered":"<p><\/p>\n<div>\n<p><strong>The Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva has assured of the commitment of the Fund to ensure that Ghana\u2019s economic recovery remains strong.<\/strong><\/p>\n<p>She commended the government of Ghana for the progress made under the debt restructuring.<\/p>\n<p><span class=\"css-1jxf684 r-bcqeeo r-1ttztb7 r-qvutc0 r-poiln3\">In a post on her X page in relation to the 2024 Annual Meetings of the International Monetary Fund\u00a0(IMF) and the World Bank Group held last week, she said \u201cGreat meeting with<\/span><span class=\"css-1jxf684 r-bcqeeo r-1ttztb7 r-qvutc0 r-poiln3\">\u00a0Finance Minister Adam (<\/span><span class=\"r-18u37iz\">@oofmghana<\/span><span class=\"css-1jxf684 r-bcqeeo r-1ttztb7 r-qvutc0 r-poiln3\">) &amp;\u00a0<\/span>@BankOfGhana\u00a0<span class=\"css-1jxf684 r-bcqeeo r-1ttztb7 r-qvutc0 r-poiln3\"> Governor Addison. <\/span><\/p>\n<p><span class=\"css-1jxf684 r-bcqeeo r-1ttztb7 r-qvutc0 r-poiln3\">\u201cI applauded Ghana\u2019s remarkable progress on debt restructuring and the recent staff-level agreement on the third programme review. Our commitment to supporting Ghana\u2019s recovery remains strong.\u201d<\/span><\/p>\n<p><img loading=\"lazy\" class=\"alignnone wp-image-428038 br-lazy\" src=\"https:\/\/3news.com\/wp-content\/uploads\/2024\/10\/kristlaina-300x295.png\" decoding=\"async\" alt=\"\" width=\"462\" height=\"454\" data-brsrcset=\"https:\/\/3news.com\/wp-content\/uploads\/2024\/10\/kristlaina-300x295.png 300w, https:\/\/3news.com\/wp-content\/uploads\/2024\/10\/kristlaina-768x755.png 768w, https:\/\/3news.com\/wp-content\/uploads\/2024\/10\/kristlaina.png 860w\" data-brsizes=\"(max-width: 462px) 100vw, 462px\"\/><\/p>\n<p>The Finance Minister Dr. Mohammed Amin Adam said that the Domestic Debt Exchange Programme (DDEP) saved Ghana a staggering $12 billion.<\/p>\n<p>Speaking on a panel discussion held as part of the 2024 Annual Meetings on Wednesday, October 23, the Minister stated that the DDEP had been an instrumental policy measure in addressing Ghana\u2019s financial difficulties and alleviating its debt load, creating a more sustainable fiscal environment.<\/p>\n<p>According to Dr. Amin Adam, the DDEP, launched in December 2022, was a monumental success that laid the groundwork for broader debt restructuring efforts.<\/p>\n<p>\u201cThe DDEP was a great success, and we followed that with the restructuring of our bilateral debt, which was also very successful. This led to significant savings of about $2.8 billion. Following this, the restructuring of our Eurobonds, which is about $13 billion, was concluded in the first week of this month, marking another great success.<\/p>\n<p>\u201cThe benefits we have derived from this so far include an outright debt cancellation of about $5 billion and another debt service relief of about $4.3 billion. So, between the bilateral creditors and the Eurobonds, we are talking about savings of about $12 billion. We think this is a great success,  and we are still working on restructuring our commercial creditors involving about $2.7 billion, which we are working very hard to conclude,\u201d he said.<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva has assured of the commitment of the Fund to ensure that Ghana\u2019s economic recovery remains strong. She commended the government of Ghana for the progress made under the debt restructuring. In a post on her X page in relation to the 2024 Annual Meetings [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":241869,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-241868","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>IMF affirms commitment to ensure Ghana\u2019s recovery remains strong - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/10\/30\/imf-affirms-commitment-to-ensure-ghanas-recovery-remains-strong\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMF affirms commitment to ensure Ghana\u2019s recovery remains strong - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva has assured of the commitment of the Fund to ensure that Ghana\u2019s economic recovery remains strong. She commended the government of Ghana for the progress made under the debt restructuring. 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