Former President John Dramani Mahama has said that Ghana’s return to the International Monetary Fund to seek a bailout is an indication that President Akufo-Addo’s ‘Ghana Beyond Aid Agenda’ is mere rhetoric.
According to him, the policies implemented by President Akufo-Addo have done very little to promote the country’s development and benefit citizens.
Speaking at the 7th Ghana CEO Summit and Expo in Accra, the former President said “indeed our return to the IMF – cup in hand – has made our Ghana Beyond Aid policy the butt of jokes amongst many commentators in the world. It will take a resolute and committed political will to determine our own economic destiny.”
He added that, it will “require the ability to determine our own economic policies that prioritise the well-being of our citizens, and create an environment conducive for the advancement of sustainable growth and development for job creation.”
Ghana received an amount of $600 million from the International Monetary Fund (IMF), the first tranche of the $3 billion bailout package on Friday, May 19.
Another tranche of funds is also expected to be disbursed by June 2023.
This will be followed by a visit by an IMF Mission to Ghana in June 2023 to review Ghana’s programme considerations.
Another review is expected just before the end of 2023, possibly in December 2023, before the final disbursement.
All the funds will be paid directly into the Bank of Ghana’s account to support Ghana’s balance of payments needs.