Press Release No. 18/482

Statement by IMF Managing Director Christine Lagarde at the Conclusion of a Visit to Ghana

December 18, 2018

Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued the following statement today in Accra at the conclusion of her visit to Ghana:

“My visit to Accra has been very fruitful and informative, and I am extremely grateful for the warm hospitality of the people of Ghana.

“I wish to thank President Nana Addo Dankwa Akufo-Addo, Vice-President Bawumia, Finance Minister Ofori-Atta, Bank of Ghana Governor Addison, their teams, and other officials for our constructive and substantive discussions. I also had the honor to meet with a broad cross-section of the Ghanaian community, including members of civil society, business women, and representatives of the private sector. I was heartened to visit the Purim African Youth Development Platform which has demonstrated a deep commitment to supporting Ghana’s most vulnerable and disadvantaged girls.

“I commended the Ghanaian authorities for their good track record under the IMF-supported program. 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.

“Increasing revenue mobilization, preserving financial stability, improving management of the energy sector, and implementing responsible polices will help anchor investors’ confidence.

“At the Conference on the Future of Work organized by the government of Ghana and the IMF yesterday, I noted 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. As we discussed at the conference, this puts a special focus on five policy areas: traditional and digital infrastructure, education, smart urbanization, enhancing social safety nets, and trade integration.

“The IMF will remain fully engaged in Ghana’s ongoing efforts to foster prosperity and opportunities for all. Credible and sustainable policies will support Ghana’s leadership position in the region.”