President Nana Addo Dankwa Akufo-Addo is convinced that Ghana’s participation in the International Monetary Fund (IMF) would stabilize and strengthen the economy.
According to Nana Akufo-Addo, the administration is aiming for a 6% growth rate in 2023.
Speaking at the Abu Dhabi Sustainability Week in Dubai, Nana Akufo-Addo expressed optimism that things will improve in Ghana.
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“We are working to grow the economy to a much faster rate this year our target being a 5.6 percent GDP growth rate. To enhance the prospect of a win-win situation for the private sector and the country in our case, we see our collaboration with the IMF to repair in the short term our public finance and give credibility to our balance of payment which has taken a severe hit in very recent times.”
“I am very confident that we will emerge from this as a stronger and more resilient economy and advance towards our goal of reaching the Ghana Beyond Aid [agenda].”
As part of the proceedings leading to a bailout, the government secured a staff-level agreement with the International Monetary Fund (IMF) in December 2022.
Ghana is seeking to acquire $3 billion from the IMF in order to supplement income deficits and service external debt.
Ghana has approached the IMF for the seventeenth time, requesting assistance in resolving the country’s balance of payment challenges.
SOURCE: CITINEWS
