Dr Johnson Pandit Asiama is the Governor of the Bank of Ghana
The Governor of the Bank of Ghana, Dr Johnson Pandit Asiama, has called on the International Monetary Fund (IMF) to prioritise measures aimed at achieving debt sustainability.
According to him, the IMF must ensure that its debt sustainability framework remains fit for purpose.
Speaking during the IMF/World Bank meetings on the theme, “Debt Vulnerabilities in Developing Countries: A Key Challenge for Achieving the Sustainable Development Goals (SDGs)”, Dr Asiama said, “strengthening the debt sustainability framework to proactively prevent unsustainable debt accumulation without unduly limiting access to much-needed development assistance is essential.”
The BoG Governor continued, “The IMF should ensure that the debt sustainability framework remains fit-for-purpose and effectively captures the unique vulnerabilities of developing countries, including climate-related debt risks and new debt instruments.”
Dr Asiama emphasised the importance of refining the IMF’s debt sustainability toolkit, stating, “We urge the IMF to enhance its risk assessment tools and early warning systems to timely identify potential debt sustainability issues. We expect the ongoing review of the LIC DSA to take stock of shortcomings and address them.”
SSD/MA
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