The IMF proposed a comprehensive rescue plan for Ghana to deal with its debt that included reducing spending, increasing revenue, and protecting the most vulnerable people while negotiating with foreign creditors.
At the approaching UN General Assembly, the subject would be a crucial discussion point. The growing debt load in the developing world, which is anticipated to exceed $200 billion, is a significant additional problem.
The study finds that the most recent IMF loan decreased currency swings and raised trust, which assisted in stabilizing the economy. Even though it is currently just about 40%, inflation has decreased from its peak of 54% in January.
Ghana’s president stated in May that the $3 billion (£2.4 billion) IMF rescue will not immediately fix the country’s economic problems.
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