President Nana Addo Dankwa Akufo-Addo has announced that projects that were halted due to efforts to secure an IMF bailout will be restarted soon.
Delivering his final address in the updates on the outbreak of Covid-19, the President stated that admitted that the bailout will not bring an immediate end to Ghana’s economic woes.
He was however confident it will bring confidence to the Ghanaian economy.
“Fellow Ghanaians, access to the IMF facility will not spell the immediate end of the difficulties we are in presently, but the fact that we have been able to negotiate such a deal sends a positive message to our trading partners, creditors and investors; a positive message that will be underpinned by the discipline, hard work and enterprise with which we execute the programme.
“It should lead to the restoration of confidence and the reopening of avenues that had been closed to us this past year and a half. It should also lead to the resumption of many of the infrastructural projects that have stalled.”
Meanwhile, he has justified the reasons why we went to the IMF for the bailout saying, it formed part of efforts to help us from the impact of the COVID-19 pandemic and the war in Ukraine.
“It was a painful decision for me to take, because going to the IMF was not part of the economic transformation agenda I had been pursuing, especially as my government had gone the extra mile to bring to a successful end the IMF programme we inherited from the previous government,” Akufo-Addo said.