President Nana Addo Dankwa Akufo-Addo says he takes absolute responsibility for his government’s decision to go to the International Monetary Fund (IMF) to seek an economic bailout.
He says the decision to go to the IMF best as it will help Ghana out of its current economic crisis.
“I take full responsibility for it. But I’m hoping very strongly that by the middle of November, a month from now, these negotiations will be over. We are going to come to a budget for the country in the middle of November.
“I’m hoping that the IMF negotiation will be over at least substantially so we will have a clear idea of the elements of the agreement with the fund, which hopefully will be to feed into the budget and have that drive our budgetary projections for next year and the year ahead.
“For me, my hope is that we will have a programme of fiscal adjustment. It will take us through most of the immediate budget but then will put us in a position in 2024 to begin the recovery and the growth”, he said.
President Akufo-Addo made these comments in the Ashanti Region to give hope to the many Ghanaians who are reeling under the hardship posed by challenges in the country’s economy.
Ghana’s economy is near collapse with the country’s cedi being ranked as the worst performing currency in the world by Bloomberg.
The country is always experiencing inflation and rising cost of living, leaving citizens in excruciating hardship.
Government is currently negotiating with the IMF with the hope of securing a $3-billion-dollar credit facility to help cushion its economy.
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