As the administration looks to win a $3 billion backing, a delegation of nine members of parliament are now in Washington, D.C., for the International Monetary Fund (IMF) and World Bank Spring meetings.
The delegation is a member of a group that also includes Dr. Ernest Addison, Governor of the Bank of Ghana, Finance Minister Ken Ofori-Atta, and other members of Ghana’s economic management team.
At the meetings, the group is anticipated to engage with commercial, bilateral, and multilateral creditors to persuade the IMF board to support the arrangement.
- BoG Governor requests swift ratification of revenue bills to expedite the IMF deal
- Akufo-Addo expresses hope. Ghana’s IMF agreement will be presented to the Board for approval by the end of March.
Speaking on the importance of the lawmakers at the meeting, the leader of the delegation of MPs and Member of Parliament for Oforikrom, Dr. Emmanuel Marfo, said it is critical to have sufficient legislation to ensure that the government uses the monies it receives from the IMF.
The IMF has stated that it is prepared to keep applying pressure on richer nations to cancel the debt of poorer nations.
The Fund announced that debt restructuring and cancellation will be the main topic of discussion at its spring conference in Washington, DC.
Speaking to journalists ahead of the meeting, IMF Managing Director, Kristalina Georgieva said the majority of poor countries are in distress and need debt forgiveness from wealthier nations.
