President Akuffo-Addo has alleged that it was an agonizing decision his government took to seek a bailout from the International Monetary Fund (IMF).
According to him, the New Patriotic Party (NPP) government went the extra mile just to ensure that the country doesn’t go to the international market to borrow money ever again, but this agenda wasn’t accomplished.
He made this assertion when he delivered his final address to the nation on the COVID-19 pandemic on Sunday, May 28, 2023. His address was monitored by Family Radio.
“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 program we inherited from the previous government,’’ he said.
President Akuffo-Addo, however, noted that the loan secured from the IMF will not solve all the economic hardships the country is facing.
“Access to the IMF facility will not spell the immediate end of the difficulties we are in presently,’’ he added.
“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,’’ Akuffo-Addo asserted.