President Akufo-Addo has emphasised that the bailout secured from the International Monetary Fund (IMF) will not be an instant panacea for the country’s challenges.
He believes it will, nonetheless, play a crucial role in restoring confidence and reopening opportunities that have been limited in recent years.
During a national address on Sunday, the President acknowledged that the approval represents a positive step toward putting the country back on track.
“While access to the IMF facility will not instantaneously resolve our present difficulties, the fact that we have successfully negotiated such a deal sends a positive message to our creditors and investors,” President Akufo-Addo stated during his May 28 address.
Akufo-Addo further highlighted that the IMF agreement would aid in restoring confidence in the Ghanaian economy, which has been adversely affected by the COVID-19 pandemic and the conflict in Ukraine.
“This agreement should lead to the restoration of confidence and the reopening of opportunities that have been limited over the past year and a half,” Akufo-Addo explained, emphasizing that it would also result in the resumption of stalled infrastructure projects.
The President reiterated that the successful implementation of the necessary reforms to make the deal effective would require the support of the Ghanaian people.
“We must all collaborate to ensure the success of this program,” Akufo-Addo urged. “Together, we must work towards building a brighter future for Ghana.”
Source: Ghana News