• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Governor Addison urges IMF to adapt policies that bolster support for African countries amidst complex economic challenges

1 year ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
72
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Governor Addison urges IMF to adapt policies that bolster support for African countries amidst complex economic challenges

In a compelling address at this year’s African Consultative Group (ACG) meeting in Washington DC on the sidelines of the IMF/World Bank April Spring Meetings, Dr. Ernest Addison, Governor of the Bank of Ghana, has called upon the International Monetary Fund (IMF) to bolster its support for African countries grappling with a myriad of domestic and external challenges.

Dr. Addison emphasized the imperative for the IMF’s policies to exhibit agility and adaptability in response to the rapidly evolving global landscape. He specifically advocated for a comprehensive review of Low-Income Countries (LICs) facilities, stressing the need to maintain concessional terms and enhance access to financing, particularly in the face of escalating global inflationary pressures.

“We underline the necessity for the upcoming comprehensive review of LICs facilities to maintain the PRGT’s concessionality and promote higher access to reverse erosion amplified by the global inflationary episode,” Dr. Addison remarked.

Furthermore, Dr. Addison highlighted the critical need to replenish resources for the Catastrophe Containment and Relief Trust (CCRT). This, he argued, would enable the provision of essential grant support to vulnerable members grappling with various shocks, such as the recent food crisis precipitated by the El Niño phenomenon.

In a bid to bolster support for LICs, Dr. Addison called for enhanced collaboration between the IMF and the World Bank, stressing the importance of synchronizing the IMF’s LIC Facilities Review with the World Bank’s IDA21 replenishment efforts.

Moreover, Dr. Addison urged the IMF to explore all available financing options, including the utilization of its internal resources. He suggested that the current favorable gold prices amidst the prevailing shocks and crises present an opportune moment for modest gold sales.

RelatedPosts

Multichoice Rebuffs Minister’s Claim On DSTV Price Cuts, Cites Market Conditions

MTN Nigeria Now the Most Capitalized Stock in Nigeria

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

Concluding his address, Dr. Addison reiterated the pressing need for further refinements to the G20 Common Framework. He emphasized the importance of leveraging the Global Sovereign Debt Roundtable (GSDR) to facilitate transparent and equitable debt resolution, including debt cancellation for the most vulnerable members.

While Dr. Addison welcomed the ongoing review of the IMF’s internal debt policies, he underscored the need for impactful reforms to ensure their effectiveness.

The Governor’s address underscores the urgent plea from African central banks for the IMF to recalibrate its strategies and provide robust support to African nations navigating through an increasingly complex and challenging economic landscape.

Tags: African CountriesGovernor AddisonGovernor Addison urges IMF to adapt policies that bolster support for African countries amidst complex economic challengesIMF
No Result
View All Result

Highlights

OPEC+ Nears Decision Point on Next Oil Output Hike

Europe’s Energy Future Hinges on Global Powers

US Companies Cut Investments in China to Record Lows, Here’s Why

How AI is Rewriting and Enhancing Water Risk Management

SheFarms Broiler Edition Kicks Off in Greater Accra

PharmAccess Ghana, Healthcare Federation of Ghana sign SafeCare License Agreement; to use Newest ISQua-Certified Version 5

Trending

Business

Multichoice Rebuffs Minister’s Claim On DSTV Price Cuts, Cites Market Conditions

August 3, 2025

Multichoice Rebuffs Minister's Claim On DSTV Price Cuts, Cites Market Conditions MultiChoice Ghana has pushed back against...

MTN Nigeria Now the Most Capitalized Stock in Nigeria

August 3, 2025

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

August 3, 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

August 3, 2025

Europe’s Energy Future Hinges on Global Powers

August 3, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.