The International Monetary Fund will remain fully engaged in Ghana’s ongoing efforts to foster prosperity and opportunities for all citizens, Managing Director Christine Lagarde has said at the conclusion of a visit to the West African state.
In a statement issued from Washington D.C. on Wednesday, Lagarde said she had, in addition to Ghanaian President Nana Addo Dankwa Akufo-Addo and other senior government officials, also met a broad cross-section of the community, including civil society, businesswomen and representatives of the private sector.
“I commended the Ghanaian authorities for their good track record under the IMF-supported program,” she said.
“I encouraged them to pursue efforts to tackle the remaining challenges, including high debt, large fiscal risks from the energy and financial sectors, and governance issues.”
Lagarde said increasing revenue mobilization, preserving financial stability, improving management of the energy sector and implementing responsible policies would help anchor investors’ confidence.
She said she had noted during a conference in the capital Accra organized by the government and the IMF that “entrepreneurs and countries are taking advantage of technological advances to tackle growth constraints and provide better services to consumers and citizens”.
“To best harness the opportunities of the fourth industrial revolution, we need openness to alternative development models and support for new and emerging sectors driving growth,” Lagarde said, adding this put a special focus on traditional and digital infrastructure, education, smart urbanization, enhancing social safety nets and trade integration.
“Credible and sustainable policies will support Ghana’s leadership position in the region,” she concluded.
