OFFICIAL: Akufo-Addo sends Ghana to IMF

President Akufo-Addo has asked for bailout from the International Monetary Fund following severe challenges with Ghana’s economy.

This was contained in a statement signed by the Information Minister.

“The President of the Republic, Nana Addo Dankwa Akufo-Addo, has authorized Finance Minister Ken Ofori-Atta to commence formal engagements with the International Monetary Fund (IMF), inviting the Fund to support an economic program put together by the Government of Ghana.”

“This follows a telephone conversation between the President and the IMF Managing Director, Miss Kristalina Georgievs, conveying Ghana’s decision to engage with the Fund,” the statement noted.

The statement further explained that this decision was taken at a cabinet meeting on June 30, 2022.

“The engagement with the IMF will seek to provide 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.”