President Akufo-Addo has expressed his satisfaction with the 3 billion dollar extended credit facility secured with the International Monetary Fund (IMF), stating that it has led to a significant recovery of the Ghanaian economy since it was obtained in 2023.
During a visit by the Managing Director of the IMF, Kristalina Georgieva, and her delegation to the Jubilee House, President Akufo-Addo emphasized his government’s commitment to implementing sound economic policies and continuing with the current IMF programme.
The President highlighted the clear turnaround and positive benefits the country has experienced as a result of seeking support from the IMF. He praised the stronger growth, decline in inflation, stable exchange rate, and overall stabilization of the economy, attributing these successes to the cooperation with the IMF and the World Bank.
Kristalina Georgieva also commended Ghana’s progress, noting that confidence in the domestic and international economy is on the rise. She emphasized the need to maintain the current positive trajectory and cement the achievements made in the first year of the three-year IMF programme.
Ghana’s decision to secure the 3 billion dollar IMF extended credit facility was made in response to economic challenges exacerbated by the COVID-19 pandemic and geopolitical conflicts. The country has received 1.2 billion dollars from the IMF so far and completed negotiations with external creditors, with ongoing discussions with private creditors.
Overall, the IMF facility has been instrumental in stabilizing and revitalizing the Ghanaian economy, setting the stage for further growth and development in the country. President Akufo-Addo believes that the decision to seek support from the IMF has been validated by the positive results seen so far.
Source: Apexnewsgh.com/Ghana
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