Ghana Will Emerge Stronger From This IMF Programme Than Previous 17 – Bawumia
Speaking at the launch of the Accra Business School IT programme in Accra on Thursday, the second gentleman of the Republic of Ghana, Dr. Mahamudu Bawumia, talked about how beneficial Ghana’s going to the IMF for a financial bailout will be to the country.
“Global energy and food costs surged during the Russia-Ukraine war.” In several advanced economies, inflation reached 30- and 40-year highs.In June 2022, Ghana’s inflation soared by 29.8%, there were disruptions, shipping costs climbed by almost 1,000%, and economic development slowed down.
“Ladies and gentlemen, we are now discussing a different government, Ghana, which is changing quickly. Digitalization and other policies are drastically altering the underlying systems, which will change the economic structure and strengthen fiscal restraint and structural reforms to bring back debt sustainability and growth.
“It will take hard work and challenging decisions, but we should emerge from this IMF program stronger than we have from the past seventeen programs.”