Kristalina Georgieva Archives

15 Apr

IMF Executive Board Selects Kristalina Georgieva To Serve A Second Term

Wontumi1BusinessIMF, Kristalina Georgieva

The Executive Board of the International Monetary Fund (IMF) has selected Kristalina Georgieva to serve as IMF Managing Director for a second five-year term starting October 1, 2024. The board’s decision was taken by consensus. In line with the selection process it had established on March 13, 2024, the board held several discussions, including with Georgieva, the sole candidate nominated for the position, before making its decision. Following Friday’s meeting, the coordinators of the executive board, Afonso S. Bevilaqua and Abdullah F. BinZarah, made the following statement: “In taking this decision, the board commended Georgieva’s strong and agile leadership during…

08 Nov

IMF Board Proposes 50% Increase In Quota Allocated To Members

Wontumi1BusinessIMF, Kristalina Georgieva, quota

The Executive Board of the International Monetary Fund has proposed a 50% quota increase allocated to members, including Ghana, in proportion to their current quotas. This will be subject to the Board of Governors' approval. The proposal follows the guidance from the International Monetary and Financial Committee (IMFC) at the 2023 Annual Meetings. According to the Fund, the quota increase would help safeguard global financial stability by enhancing the IMF’s permanent resources and reducing reliance on borrowed resources. The proposal envisages that once quota increases are in effect, borrowed resources comprising the Bilateral Borrowing Agreements and New Arrangements to Borrow (NAB) would be reduced…

26 Oct

Outlook Of African Economies In 2024 Signal Gradual Strengthening – IMF

Wontumi1BusinessExchange rate, IMF, Kristalina Georgieva

The International Monetary Fund has stated the outlook of African economies in 2024 provides hopeful signals that economic activity is gradually strengthening with stronger growth, falling inflation, and narrowing fiscal imbalance. At an African Caucus Meeting, the Managing Director of the IMF, Kristalina Georgieva, said this year has been a difficult year for Africa, but there is hope going forward. “We had very productive discussions on Africa’s economic prospects. This year has been a difficult year for Africa. The region is still emerging from the Covid-19 pandemic and African countries have been hit by high borrowing costs (“funding squeeze”) and…

16 Oct

Ghana, Sri Lanka Have Advanced With G20 Common Framework For Debt Treatments – IMF Boss

Wontumi1BusinessG20 Common Framework, Ghana, IMF, Kristalina Georgieva

The Managing Director of the International Monetary Fund, Kristalina Georgieva, has hinted that Ghana and Sri Lanka have advanced with the G20 Common Framework for Debt Treatments. This should soon pave the way for a probable agreement with the bilateral creditors for the external debt restructuring. Finance Minister, Ken Ofori-Atta, has, already indicated that Ghana will conclude negotiations with its bilateral creditors including China by the end of the year. Speaking at a press briefing to climax the World Bank/IMF Spring Meetings in Marrakesh, Morrocco, Ms. Georgieva said her outfit has made progress on debt resolution for countries in debt…