IMF deal will not spell an immediate end to present difficulties, says Akufo-Addo

President Akufo-Addo has said the bailout from the International Monetary Fund (IMF) will not immediately end Ghana’s current economic challenges.

He said, however, the support from the Bretton Woods institution will lead to the resumption of infrastructural projects that have stalled across the country.

Addressing the nation on Sunday (28 May), the president said: “Access to the IMF facility will not spell the immediate end of the difficulties we are in presently. But the fact that we’ve been able to negotiate such a deal sends a positive message to our creditors and investors.”

“It should lead to the restoration of confidence and the reopening of avenues that have been closed to us this past year and a half,” Akufo-Addo said adding that it will “lead to the resumption of infrastructural projects that have stalled”.,

The International Monetary Fund (IMF) this month approved Ghana’s request for a US$3 billion bailout to support the country’s economic recovery.