The International Monetary Fund, IMF has re-doubled its plea to wealthier nations to support Ghana and other weaker economies to help them free themselves from economic constraints.
The call comes at a time when the Fund has seen a 1.6 billion shortfall in its funding in the face of seemingly global crises, where funding to debt-distressed countries is at its highest.
The IMF Managing Director, Kristalina Georgiva said the Fund and wealthier countries need to make it easier for weaker ones to structure their debt to help minimize the effect of the debt crises on the lives and livelihood of their people.
She said, developed economies must also commit more resources to the fund’s Poverty Reduction and Growth Trust, PRGT.
A concessionary lending window for low-income countries, LICs to help strengthen the global response to debt vulnerabilities.
The one-week meeting in Washington DC in the US comes off at a time when low-income countries are battling extreme debt pressures worsened by the COVID-19 pandemic, and the Russia-Ukraine conflict.
