The Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva has commended the government of Ghana for the progress made under the debt restructuring.She assured the government that the Fund's commitment to supporting Ghana's recovery remains strong.In a post on her X page in relation to the 2024 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group held last week, she said "Great meeting with Finance Minister Adam (@oofmghana) & @BankOfGhana Governor Addison. "I applauded Ghana's remarkable progress on debt restructuring and the recent staff-level agreement on the third programme review.
Our commitment to supporting Ghana's recovery remains strong."The Finance Minister Dr.
Mohammed Amin Adam said that the Domestic Debt Exchange Programme (DDEP) saved Ghana a staggering $12 billion.Speaking on a panel discussion held as part of the 2024 Annual Meetings on Wednesday, October 23, the Minister stated that the DDEP had been an instrumental policy measure in addressing Ghana's financial difficulties and alleviating its debt load, creating a more sustainable fiscal environment.According to Dr.
Amin Adam, the DDEP, launched in December 2022, was a monumental success that laid the groundwork for broader debt restructuring efforts."The DDEP was a great success, and we followed that with the restructuring of our bilateral debt, which was also very successful.