IMF Managing Director Kristalina Georgieva has emphasized the IMF’s commitment to addressing Africa’s debt crisis and promoting growth. During a recent interview with Deutsche Welle, a German media company, she highlighted the IMF’s provision of liquidity through special drawing rights and financing during the COVID-19 pandemic, as well as support for debt restructuring in nations like Chad, Ghana, Zambia, and Ethiopia. Georgieva announced that sub-Saharan Africa will gain another seat on the IMF’s board starting on November 1, 2024, to enhance representation. She stressed that the IMF’s programs on the continent strive to maintain a balance between fiscal discipline on one hand and growth, job creation, and poverty reduction on the other. Georgieva also emphasized Africa’s potential, citing its youthful, talented population as a critical asset to the global economy, particularly as Europe and Asia age.
SOURCE: DW
