President of the Republic, H.E Nana Addo Dankwa Akufo-Addo has given an assurance to the Ghanaians that his government’s move to the International Monetary Fund (IMF) will be successful.
Despite seeking support from the IMF more than 15 times in the past, the story of Ghana unable to manage its finances wisely is one that is regarded as problematic by economic experts.
Swearing into office new Ambassadors and High Commissioners at a ceremony at the Jubilee House on Friday, July 8, 2022, President Akufo-Addo explained that his government is seeking help from the IMF in the short-run to repair the broken finances of the country.
He said, “Currently, we have decided to seek the collaboration with the International Monetary Fund to repair, in the short run, our finances which have taken a severe hit in very recent times while we continue to work on the medium to long term structural changes that are our heart of our goal to create the Ghana beyond aide, that is building a resilient, robust Ghanaian economy.”
The President stressed that he has no doubt with determination and hard work, the country will be successful in its dealings with the IMF this time around.
“I am confident that with determination, hard work, unity and the proverbial Ghanaian sense of enterprise we will succeed, we will make it and indeed this too shall pass.
“What these trends of event have taught all of us is that, we also have to strengthen and deepen our ties of cooperation and bonds of friendship with each other.
“No country will be able to do it alone. We either succeed together or we perish together and that is where your work as ambassadors and High Commissioners will be needed the most,” President Akufo-Addo noted.
A week ago, President Akufo-Addo directed the Finance Minister, Ken Ofori-Atta to engage the IMF for support in the midst of the troubling economic times the country finds itself.
Officially this week, in-person discussions have commenced as Ghana pushes for a bailout.