IMF Deal: Stalled infrastructural projects to resume soon – President Akufo-Addo

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Projects that were put on hold after attempts to obtain a bailout from the International Monetary Fund (IMF) will soon restart, according to President Nana Addo Dankwa Akufo-Addo.

The President provided this reassurance during his 29th address to the country, which also included an update on the IMF program and measures taken to stop the spread of the coronavirus.

In his update, the president cautioned that the IMF program would not immediately put an end to Ghana’s economic problems, but he nonetheless expressed confidence that it would boost the country’s economy.

“It should lead to the restoration of confidence and the reopening of avenues that have been closed to us this past year and a half. It will also lead to the resumption of many of the infrastructural projects that have stalled” President Akufo-Addo stated.

Ghanaians will soon start noticing an improvement in both their living standards and the state of the economy, according to President Nana Akufo-Addo.

On Sunday night, President Akufo-Addo stated in a nationwide broadcast that his administration would work to ensure that the country would overcome its economic challenges as quickly as possible, same to how it had recovered from the COVID-19 pandemic.

“We got ourselves out of the pandemic in which there were no precedents to rely on, even the experts admitted that there were no clear cut solutions. We did it by being resolute, focused and working very hard and by accepting that we had to stick together. With similar frame of mind and attitude, we shall overcome the economic difficulties as well sooner rather than latter.

“I have no doubt in my mind that we are on the right path and we’ll soon start to see significant improvement in the economy and in the living standards of Ghanaians.”

According to President Nana Akufo-Addo, Ghana’s most recent agreement with the IMF will restore confidence in the economy of the nation.

The IMF agreement, he claimed, won’t put an end to the country’s problems right away, but it is a step that will put it back on the right track.

“Access to the IMF facility will not spell the immediate end of the difficulties we are in presently. But the fact that we’ve been able to negotiate such a deal sends a positive message to our trading partners, creditors and investors. A positive message that will be underpinned by the discipline, hard work and enterprise in which we execute the programme.”


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