WASHINGTON, December 16, 2022 – Today, World Bank Group President David Malpass met with President Nana Akufo-Addo of Ghana.
President Malpass and President Akufo-Addo spoke about the strong engagement between the World Bank Group (WBG) and Ghana, including recent WBG support for Ghana in the areas of digital economy, the health sector, and urbanization, as well as small-and-medium enterprises.
President Malpass and President Akufo-Addo discussed Ghana’s macroeconomic challenges and the fiscal and economic reforms that are needed to restore macroeconomic stability and debt sustainability. President Malpass emphasized the importance of timely implementation of planned reforms and reconfirmed the WBG’s commitment to support Ghana, highlighting the need to strengthen social safety net programs to protect the most vulnerable, as well as the need to support financial sector stability.
President Malpass and President Akufo-Addo discussed the vital importance of a swift debt restructuring process that would restore debt sustainability in Ghana. President Malpass and President Akufo-Addo also spoke on the benefits of a clear timeline of the restructuring process, early involvement of private sector creditors, transparency, and information sharing.