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IMF Bailout Bears Fruit, Says President Akufo-Addo

President Nana Addo Dankwa Akufo-Addo has asserted that Ghana’s decision to seek assistance from the International Monetary Fund (IMF) for balance of payment support has yielded favorable outcomes.

During a meeting with the IMF Managing Director Kristalina Georgieva at the Jubilee House, President Akufo-Addo attributed the recent decrease in inflation and the stability of the local currency to the IMF’s support program.

Expressing contentment with the results of the bailout, President Akufo-Addo emphasized the positive impact of the decision made in July 2022, amidst challenging economic circumstances. He highlighted the noticeable turnaround in Ghana’s economy since then.

“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.”

President Akufo-Addo stressed the importance of maintaining a balance between meeting the needs of Ghanaians and adhering to the requirements of the IMF’s 3-year extended credit program. He emphasized the necessity of safeguarding both economic rigour and the interests of the populace, particularly as Ghana approaches the December 7 general election.

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