The President-elect of the Republic of Ghana, John Dramani Mahama, has revealed that, stabilizing the country’s economy will be the top most priority of his government.
According to him, Ghana can only develop when there is a stable economy as a stable economy is essential for the overall well-being of the country. He said the state of the economy state has a ripple effect across all sectors.
John Dramani Mahama, made this assertion during an interview with Voice of America (VOA) on last Saturday, 14th December, 2024.
“The economy is going to be the number one focus because it affects everything else. If the economy is in a bad way, it affects education, it affects agriculture, it affects sports, it affects every sector of the country.
“We’re going to have to be dealing with stabilizing the economy. Unfortunately, in this circumstance, we have two major issues. One, macroeconomic stability and two, debt sustainability. In all the other times that we’ve gone to the IMF, it’s just been for macroeconomic stability. ” He said
The President-elect, further revealed that, his government although won’t jettison the current IMF program but they will consider potential adjustments to better align with the country’s budjet
“We’re going to continue the IMF program. We already have requested some discussion with the IMF because we’re not part of the negotiation of this program. And so we need to look at how we can all be on the same wavelength in terms of implementing the program.
“We’re not going to jettison the program but within the program, I’m sure that there can be some leverage for tweaking it.” John Mahama revealed.
The $3 billion IMF deal, which Ghana entered into to support its economic recovery, includes measures aimed at reducing the country’s public debt, controlling inflation, and improving fiscal transparency.
President-elect, John Dramani Mahama further said, “so if we’re able to reach that agreement, then we’ll continue the program until it ends. What it means is that the budget must align with the IMF program.
“There’s not much leverage in there for making the kind of radical reforms that you might need to make. But we would accept the reforms that are being made under the IMF and deepen them when we have our own program after the current extended credit facility runs out.”
Source: Elvisanokyenews.com
