Access to the International Monetary Fund (IMF) facility will not spell an immediate end to the economic challenges Ghana is facing, President Akufo-Addo has cautioned.
The IMF this month approved Ghana’s request for a US$3 billion bailout to support the country’s economic recovery.
However in an address to the nation yesterday, President Akufo-Addo stressed that being able to negotiate such a deal sends a positive message to the country’s trading partners.
“…access to the IMF facility will not spell the immediate end of the difficulties we are in presently, but the fact that we have been able to negotiate such a deal sends a positive message to our trading partners, creditors and investors; a positive message that will be underpinned by the discipline, hard work and enterprise with which we execute the programme”, President Akufo-Addo said in a telecast monitored by Wontumionline.com.
President Akufo-Addo acknowledged prior to the IMF facility kicking in, the economic hardships had closed avenues and dwindled confidence in our economy.
Touching briefly on the positives of the IMF facility, he said “it should lead to the restoration of confidence and the reopening of avenues that had been closed to us this past year and a half.”
He continued that “it should also lead to the resumption of many of the infrastructural projects that have stalled.”
VIDEO below…