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I’m hopeful inflation will come down, economy to regain stability – IMF Resident Rep

Dr. Leandro Medina, IMF Resident Rep for Ghana

Wed, 24 May 2023 Source:

The Resident Representative of the International Monetary Fund in Ghana, Dr. Leandro Medina, has expressed optimism over the recovery of the economy after the approval of the $3 billion loan facility from the fund.

According to a report, he noted that Ghana’s programme will be subject to a periodic review after every six months before a new disbursement will be issued.

He also noted that the programme will ensure some macroeconomic stability, and help in bringing down inflation while addressing Ghana’s debt challenges.

“It will also seek to deal with debt sustainability issues, including wide-ranging reforms to build resilience and lay the foundation for stronger and more inclusive growth.

“I believed that Ghanaians are looking forward to the programme bringing inflation down, and stabilizing the current economic situation and hopeful that will happen,” he added.

Ghana’s 3-year programme with the IMF was approved by the Executive board of the Fund on May 17, 2023.

The country has, thereby, received the first tranche of the IMF loan on May 19, 2023.

This is essentially to help boost Ghana’s balance of payments and also support the country’s budget deficit.

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