President Nana Addo Dankwa Akufo-Addo has said that the government’s negotiations with the International Monetary Fund (IMF) has neared a concluding stage.
In his first address to the nation on October 30, amidst the troubling economic turmoil the country is currently facing, the president expressed confidence in the economic recovery programme.
He mentioned that “I am able to report to you, my fellow Ghanaians, that the negotiations to secure a strong IMF Programme, which will support the implementation of our Post COVID-19 Programme for Economic Growth and additional funding to support the 2023 Budget and development programme, are at advanced stages, and are going well”.
This comes in contradiction to allegations that the government is struggling to secure a deal with the IMF.
It was said that the economic management team had provided the Fund with inaccurate figures, hence the delay from the IMF.
The President refuted such claims, adding that “We are determined to secure these arrangements quickly to bring back confidence and relief to Ghanaians”.
Stating some benefits of the IMF engagement, he mentioned that the cedi would see an appreciation .
“We are working towards reaching a deal with the IMF by the end of the year.This will give further credence to the measures Government is taking to stabilize and grow the economy, as well as shore up our currency.”
The local currency has been struggling to perform against major world trading currencies.