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Ghana Sees Positive Outcomes from IMF Bailout – President Akufo Addo

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President Nana Addo Dankwa Akufo-Addo has lauded Ghana’s pursuit of balance of payment support from the International Monetary Fund (IMF), citing positive outcomes. He attributes the recent decline in inflation and the stability of the local currency to the IMF support programme.

During a meeting with visiting IMF Managing Director Kristalina Georgieva at the Jubilee House, President Akufo-Addo expressed satisfaction with the results of the bailout. He emphasized that the decision to seek IMF support in July 2022, amidst challenging economic circumstances, has proven beneficial and contributed to a noticeable turnaround in Ghana’s economy.

President Akufo-Addo stated, “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.”

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