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'Ghana is doing well, I would hope that we can have the $600m disbursement in November - IMF boss

Fri, 6 Oct 2023 Source: manzekay

In a wide-ranging interview, Kristalina Georgieva also said Zambia and Ghana, which have both defaulted on their debt, are making progress under their IMF programs, while Tunisia doesn’t need a restructuring yet but should act soon to shore up its economy.

You have seen that their position has improved over the last month, the economy is in a much better place.

In her broader remarks, Georgieva identified addressing unsustainable debt crises as a "top priority".

Further south on the continent both Zambia and Ghana, two nations that have defaulted on their debt, are in line for further support, Georgieva said.

In further recognition of the difficulty many of the world’s poorest nations are having repaying debt, Georgieva said she backs the idea of debt payment suspensions when countries are hit by climate disasters.

“I’m very much in favour of including clauses in debt, be it bonds or loans, that put debt service suspension in place

“We all need to think about how we go about debt service in a world of more frequent and devastating climate disasters.”

Source: manzekay