As a country, there is a probability of experiencing a decline in the level of your economy and hence calls for the need to have direct relations with other countries and organizations to extend a helping hand when the need arises for which the IMF and World Bank is one. The World Bank is an international financial institution that provides loans and grants to the governments of low and middle income countries for the purpose of pursuing capital projects and has two ambitious goals, that is to end extreme poverty within a generation and boost shared prosperity.
Ghana has benefited from these organizations over the years are is currently in negotiations with the IMF for support to help rescue it’s failing economy.
Writing from the official twitter page of Ghanaweb is a revelation and a reminder made by Pierre Frank Laporte, World Bank Director to Ghana speaking at an official event held in the nation’s capital on Ghana’s borrowings. An approved amount of 903 million dollars was given to Ghana by the world bank over the previous year between July 1, 2021 and July 30, 2022 to support public finance reforms, he said in his conclusion statements recalling the performance of the program on the country.
This statement made by him has left Ghanaians confused as they no nothing about this support fund and could also not pinpoint what is was used for. The current debt stock of the nation as at now stands at 391.9billion cedis.
Below are some of the reactions I gathered:
S
hould the IMF move by the NPP be welcomed warmly considering the above? Let your opinion be heard in the comments section below. Do not be left out. Have a nice day!
SOURCE: Ghanaweb.com/twitter.com
Leave a Reply