Flagbearer of the National Democratic Congress (NDC), John Mahama has described Ghana’s return to the International Monetary Fund (IMF) for a US$3 billion extended credit facility arrangement as grave joke.
According to him, Ghana seeking a bailout from the IMF is a clear indication that President Nana Addo Dankwa Akufo-Addo’s mantra ‘Ghana Beyond Aid Agenda’ is mere rhetoric with no action.
This reaction coincides with that of the Deputy Minister for Information, Fatimatu Abubakar, that the IMF programme won’t solve all Ghana’s problems, after the International Monetary Fund on Wednesday, May 17, 2023, approved a $3 Billion loan for Ghana.
The programme is spread over 36 months under the Extended Fund Facility and aims at restoring macroeconomic stability and debt sustainability, as well as implementing wide-ranging reforms to build resilience and lay the foundation for stronger and more inclusive growth.