Kristalina Georgieva

05 Jan

IMF Engages International Creditors On Cancellation Of Ghana’s Debt

wontumionlineBusinessimf, Kristalina Georgieva

The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has disclosed that the Fund is engaging some international creditors for a possible cancelation of Ghana’s debts. According to her, the move is targeted at debt cancellation for countries with distress debt challenges. She stated that the countries include Chad, Ethiopia, Zambia, Ghana, Lebanon, and Sri Lanka. “It is very important for their people that we find the resolution to the debt problem, but the risk of contagion is not as high,” she said on American news channel CBS. Ms. Georgieva explained that current global condition makes it difficult…

04 Jan

Third Of World In Recession This Year, IMF Head Warns

wontumionlineBusinessimf, Kristalina Georgieva, Recession

A third of the global economy will be in recession this year, the head of the International Monetary Fund (IMF) has warned. Kristalina Georgieva said 2023 will be “tougher” than last year as the US, EU and China see their economies slow. It comes as the war in Ukraine, rising prices, higher interest rates and the spread of Covid in China weigh on the global economy. In October the IMF cut its global economic growth outlook for 2023. “We expect one third of the world economy to be in recession,” Ms Georgieva said on the CBS news programme Face the…