President Nana Addo Dankwa Akufo-Addo is optimistic that a lifeline from the International Monetary Fund (IMF) would have an “important impact” on Ghana’s economy both in the short and long term.
He was hopeful that when negotiations were successfully completed with the IMF, support from the Fund would enhance the government’s economic reform programme.
The President expressed that view when he met the leadership of the Association of Ghana Industries (AGI) at the Jubilee House, Accra on Tuesday.
The Association was at the Presidency at the invitation of the President as part of a series of consultations with interest groups to forge consensus to address current economic challenges.
President Akufo-Addo told the association that the meeting was to bring it (AGI) up to speed with government’s negotiation with the International Monetary Fund and what the negotiations portends for the future of economic policy of the country.
“We are talking and hopefully concluding soon these important negotiations which are going to have important impact on the way forward for the Ghanaian economy in the months and immediate years ahead,” he stated.
Ghana is seeking the IMF’s support to reign in slow economic growth, which the government attributed to the COVID-19 pandemic and the Russian invasion of Ukraine. The country has seen inflation rise from 13.9 percent in January 2022 to 37.2 percent in September.
Before the meeting went into a closed-door session, AGI’s president, Dr. Humphrey Kwesi Ayim-Darke, who led the delegation, said the Association recognized government’s relentless effort to steer the Ghanaian economy to its pride of place.
He pledged the association’s support for the government’s vision for reform and renewal that would help transform the economy.
“We pledge our support that together we shall resolve the intended difficulties that we find ourselves in,” he said.
President Akufo-Addo also met behind closed-doors the Ghana Association of Banks, the Council of State and transport unions to discuss pressing economic issues.