July 21, 2024

Ghana’s Finance Minister Returns from IMF and World Bank Meetings Determined to Implement Sustainable Economic Policies

April 22, 2022—Administrator Samantha Power met with Ken Ofori-Atta, Ghana’s Minister of Finance, to discuss a range of USAID’s development programs in the country and the urgent need to address rising food insecurity around the world.
April 22, 2022—Administrator Samantha Power met with Ken Ofori-Atta, Ghana’s Minister of Finance, to discuss a range of USAID’s development programs in the country and the urgent need to address rising food insecurity around the world.

Ghana’s Finance Minister, Ken Ofori-Atta, is returning home from the IMF and World Bank Spring Meetings in Washington, DC, feeling encouraged and determined to continue implementing policies to set the country on a sustainable economic path. During the meetings, Ken Ofori-Atta had the opportunity to meet with other stakeholders, including other African finance ministers to discuss ways to collaborate and address the funding squeeze in the region.

Despite facing significant challenges, including a high debt-to-GDP ratio and a large fiscal deficit, Ghana has already implemented several policies, including revenue mobilization and debt management measures. These policies have been recognized and supported by the international community.

Ghana is seeking a $3 billion bailout from the International Monetary Fund to the West African nation solve many of its economic challenges.

IMF African Department Director, Abebe Selassie, had stated during the meetings that the IMF was comfortable with the measures Ghana had taken over the last several months, but challenges still needed to be addressed over the program period in the next three to four years.

Ken Ofori-Atta is said to be committed to continuing these efforts and setting Ghana on a more sustainable economic path. He knows it will be a long and challenging journey, but he is ready to take it on for the sake of Ghana’s future.

With the support of the international community and collaboration with other African finance ministers, Ken Ofori-Atta may well be optimistic about Ghana’s economic future.

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