Ghana’s president, Nana Addo Dankwa Akufo-Addo, is sure that the IMF bailout would be a success.
On Friday, July 8, 2022, the President will administer oaths of office to new ambassadors and high commissioners,
“The International Monetary Fund (IMF) is currently our preferred partner for short-term financial recovery while we work on the medium- to long-term structural changes at the core of our goal to build a resilient and robust Ghanaian economy that is independent of aid.
The traditional “Ghanaian spirit of enterprise” in me says, “I am convinced we will succeed, we will make it, and this too will pass.”
Then he added: “This year’s events have taught us all a valuable lesson: we must also develop and deepen our links of friendship and collaboration with one another.
“It can’t be done by one nation alone. Your job as ambassadors and high commissioners will be critical whether we are to triumph or die together.”
Meanwhile, the International Monetary Fund (IMF) despatched a team to Ghana to begin discussions on a prospective loan agreement.
However, in light of the country’s skyrocketing inflation, President Nana Akufo-Addo allowed Finance Minister Ken Ofori-Atta to take action. He had previously rejected appeals for financial aid from the IMF.
Carlo Sdralevich, the IMF’s Ghana mission leader, said in a statement that “an IMF staff team will in the next day kick-start negotiations on a prospective program to assist Ghana’s domestic economic policies” on the basis of a request from Ghanaian officials.
“We are at an early stage of the process, considering that comprehensive negotiations have yet to take place,” he said.