Positive impact of IMF bailout evident in Ghana, says Akufo-Addo

President Akufo-Addo has highlighted Ghana’s successful outcomes following the decision to seek a balance of payment support from the International Monetary Fund (IMF).

During a meeting with IMF Managing Director Kristalina Georgieva at the Jubilee House, President Akufo-Addo emphasised the positive impact of the IMF support program on Ghana’s economy.

Notably, he attributed the recent decline in inflation and the stability of the local currency to IMF assistance.

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Expressing satisfaction with the results of the IMF bailout, President Akufo-Addo underscored the importance of the decision made in July 2022. Despite facing challenging economic circumstances at the time, seeking IMF support has proven beneficial for Ghana.

President Akufo-Addo pointed out that the IMF program has played a pivotal role in bringing about a noticeable turnaround in the country’s economic landscape.

“The decision we made in July 2022 to come and seek your support for the difficult economic circumstances that we had as far as I am concerned is a decision that already has paid off. It has paid off in terms of a clear turnaround that we are seeing in our economy.”

“The dire circumstances in which we were at the time that we took that very difficult decision and where we are today is a very clear testimony that our decision to seek your support is a decision that was correct, and we have had some benefits from it.”

In conclusion, President Akufo-Addo’s affirmation of Ghana’s successful utilisation of IMF support reflects a broader commitment to economic resilience and progress.

The meeting with the IMF Managing Director serves as a platform to recognize achievements, discuss future strategies, and reaffirm Ghana’s dedication to fostering a stable and prosperous economy through collaborative efforts on both domestic and international fronts.

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Source: myjoyonline.com