praise for the president’s dedication to economic improvements. According to her, doing so was crucial to fostering economic growth and resilience, especially in light of the nation’s advancements in debt restructuring under the International Monetary Fund (IMF) program.
During a discussion with the President on June 22 outside of the Summit for a New Global Financial Pact in France, Ms. Yellen praised the President.
One of the prominent figures from around the world invited to the Summit was President Nana Akufo-Addo, which was organized by French President Emmanuel Macron.
The two individuals reportedly addressed attempts to modernize multilateral development banks in order to address the global issues of the twenty-first century, according to a report by Reuters on the meeting’s fringes, which was followed by the Ghana News Agency (GNA).
During the interaction, they also discussed efforts to mobilize funding for infrastructure and the environment for Ghana and other African nations.
In May of this year, the IMF commended the West African country on the $3 billion IMF-supported package that the Executive Board had approved.
“We stand with Ghana as it implements reforms to address the current economic and financial crisis and help build a better future for all Ghanaians,” the Fund said in a statement.
praise for the president’s dedication to economic improvements
A new global financial pact will be discussed in a summit in June 2023 as a result of the cascading effects of concurrent energy, health, economic, and climate problems, especially in the most vulnerable nations.
It intends to make recommendations for financial challenges, such as access to htt and the battle against poverty, that go beyond the climate issue.
Many nations now have less fiscal and budgetary room as a result of the COVID-19 pandemic, the war in Ukraine, and their subsequent effects, which makes it more difficult for them to pay for their citizens’ access to essential social services.
Because of this, the United Nations Development Programme (UNDP) reported that human development will deteriorate in nine out of ten nations in 2022, primarily as a result of a decline in life expectancy and an increase in poverty.
The goal of the summit, according to a statement from the French Minister of Europe and Foreign Affairs, is to “build a new contract with the North and the South” to make it easier for vulnerable nations to get the funding they need to deal with the effects of present and upcoming crises.
The Summit will address issues such as promoting private sector development in low-income countries and restoring budgetary room to nations experiencing short-term difficulties, particularly the most indebted countries.
The event also aims to mobilize creative funding for nations most vulnerable to climate change and encourage investment in green infrastructure for the energy transition in emerging and developing countries.