President Akufo-Addo has underscored Ghana’s achievements after opting for IMF balance of payment support, citing positive outcomes during a meeting with IMF Managing Director Kristalina Georgieva at the Jubilee House.
Specifically, he credited the IMF support program for the recent decrease in inflation and the stability of the local currency.
Pleased with the outcomes of the IMF bailout, President Akufo-Addo emphasized the significance of the decision made in July 2022.
Despite encountering economic challenges at the time, opting for IMF assistance has proven advantageous 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 summary, President Akufo-Addo’s endorsement of Ghana’s effective utilization of IMF assistance mirrors a broader dedication to economic resilience and advancement.
The engagement with the IMF Managing Director serves as an opportunity to acknowledge accomplishments, deliberate on future plans, and reaffirm Ghana’s commitment to nurturing a stable and prosperous economy through collaborative endeavors on both local and global scales.