President NNana Addo Dankwa Akufo-Addo has assured Ghanaians that the IMF deal will fast-track the completion of capital projects.
Ghana is seeking an International Monetary Fund (IMF) bailout to aid the ailing economy. The country’s debt to GDP has now risen to 93.7%.
The President said part of the conditionality with the IMF may require disruption in some of the government’s infrastructure programmes.
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Speaking at a meeting with the Western Regional House of Chiefs at the Jubilee House on Monday, Akufo-Addo said the IMF balance of payment support will go a long way to help the country.
There will be some temporary delays while we are making the agreements with the IMF, and that is what we are experiencing now but at the end of the day we will get an arrangement that allows us to continue the projects.” Some of the major projects likely to be affected are the construction of the National Cathedral and Agenda 111.
Issues of the National Cathedral have become a national discourse. The project has been rocked by several corruption scandals since its inception of the project. The President had promised on countless occasions that he will ensure the completion of the National Cathedral before his tenure ends in January 2025.
The World Bank has rated Ghana’s economy among the worse economies in the world. War hit Ukraine is even doing better than Ghana economically.
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