The Executive Board of the International Monetary Fund (IMF) on Wednesday, May 17, 2023, approved the $3 billion bailout deal for Ghana in Washington DC.
This three-year extended program aims at restoring macroeconomic stability and debt sustainability while implementing reforms that would ensure sustainable growth.
Prior to this agreement between the Government of Ghana and the IMF, the president and the Minister of Finance promised the entire nation that no matter what happens, the country will never go to the IMF because its consequences are dire.
Contrary to this promise, the government eventually went to the IMF for a bailout. This news has set social media ablaze, as some Ghanaians have bashed the government for mismanaging the economy while others have commended him for the excellent work he did in getting the deal done.
Here are some of the reactions: