President Akufo-Addo has emphasized Ghana’s achievements since the country decided to approach the International Monetary Fund (IMF) for balance of payments support.
Speaking at the Jubilee House, President Akufo-Addo emphasized the benefits of the IMF support package for Ghana’s economy, along with IMF Managing Director Kristalina Georgieva.
Notably, he credited IMF support for the recent drop in inflation and the stability of the local currency.
While expressing satisfaction with the IMF bailout’s outcomes, President Akufo-Addo emphasized the significance of the July 2022 decision. Even though Ghana was going through difficult economic times at the time, asking for IMF assistance has helped the country.
The IMF initiative, according to President Akufo-Addo, has been crucial in bringing about a discernible improvement in the nation’s economic situation.
“As far as I’m concerned, the decision we took in July 2022 to ask for your help in light of our challenging financial situation has already proven to be fruitful. It has paid off, as evidenced by the evident improvement in our economy.”
“Our current situation and the dire circumstances we faced when we made that extremely difficult decision are a very clear testimony that our decision to seek your support was the right one, and we have benefited in some ways from it.”
To sum up, President Akufo-Addo’s confirmation of Ghana’s effective use of IMF assistance reveals a larger dedication to economic improvement and resilience.
The meeting with the managing director of the IMF provides an opportunity to acknowledge accomplishments, talk about plans for the future, and restate Ghana’s commitment to promoting a stable and successful economy through cooperative efforts on the local and global levels.
