Akufo-Addo Assures IMF Ghana Will Stay Within Budgetary Limits During Election Year
- President Akufo-Addo has told the IMF that his government will ensure that there is no overspending during the election year
- According to him, he will strike a fine balance between ensuring the country stays on the right track and protecting the interests of the people
- Meanwhile, IMF Managing Director, Kristalina Georgieva has urged Ghana to build strong economic foundations
President Akufo-Addo has assured the International Monetary Fund (IMF) that Ghana will stay within its budgetary allocation as the country heads to the polls in December.
He was allaying fears about the usual overspending during the election periods during a meeting with the Managing Director of the IMF, Kristalina Georgiva at the Jubilee House on Sunday, March 17, 2024.
Source: Getty Images
According to him, his government will strike a fine balance between ensuring that the country’s economy remains on its growth trajectory white at the same time safeguarding the interests of Ghanaians.
He said he will do everything within his capacity to ensure that the upcoming December polls are carried out smoothly and without any regrettable event that could derail the country’s economic recovery.
Akufo-Addo expresses confidence in Amin Adam
President Akufo-Addo further noted that he was confident his new Finance Minister, Mohammed Amin Adam will be able to help the country sail through its economic turmoil with help from the IMF.
“I’m not quite sure he recognises the full extent of the difficulties that are before him, but he has the courage of youth and the optimism.”
Mohammed Amin Adam became Finance Minister after the President’s cousin, Ken Ofori-Atta was ousted in a ministerial reshuffle.
Ken Ofori-Atta is currently the Senior Presidential Advisor and Special Envoy for International Finance and Private Sector Investments to the president.
Kristalina Georgieva urges Ghana to build economic foundation
Meanwhile, the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva said Ghana has a unique opportunity to demonstrate to the world that it is committed to restoring confidence in its economy.
She stated that the world economy is recovering at an unexpected rate following the Covid-19 pandemic and the Russia-Ukraine war.
According to her, Ghana can also see such remarkable growth should it invest in developing its economic foundation.
“The main lesson from this experience is that you do the right thing now to build the strongest possible foundation for growth for Ghana.”
Akufo-Addo says bailout yielding positive results for Ghana
YEN.com.gh also reported that President Nana Akufo-Addo has said Ghana’s decision to seek support from the International Monetary Fund is yielding positive results.
Akufo-Addo attributed the decline in inflation and relative forex stability to the IMF support programme.
The president believes the support programme has also contributed to an economic turnaround.
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Source: YEN.com.gh
