Ghana’s President Nana Akufo-Addo has authorized the country’s finance minister to begin formal talks with the International Monetary Fund (IMF) as the economy keeps getting worse each and everyday in this country. This news has been widely speculated after a formal statement from the Ministry of Information released a statement of which Nana Addo has asked the Financial Minister, Ken Ofori Atta to seek for help from the IMF.
“The engagement with the IMF will seek to provide a balance of payment support as part of a broader effort to quicken Ghana’s build back in the face of challenges induced by the Covid-19 pandemic and, recently, the Russia-Ukraine crises,” the statement says. This has raised many concerns and reactions on the internet as many people shared their discomfort towards this move as it is going hinder and stop certain policies.
The cabinet indicated its support for the decision at a meeting on June 30, following a phone conversation between Akufo-Addo and the IMF’s Managing Director Kristalina Georgieva. This comes after the government realized the failure in the e-levy tax as the money expected was way too much than what it was actually generating.
Here is a picture of the statement;
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