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Your policies laid the foundation for Ghana's future - IMF lauds Akufo-Addo
Your policies laid the foundation for Ghana's future - IMF lauds Akufo-Addo
By: Abigail | 1 min read
Managing Director for the International Monetary Fund (IMF) Kristalina Georgieva has commended former Ghanaian President Nana Addo Dankwa Akufo-Addo for his leadership and policy decisions during his tenure in office.
In a letter dated January 8, Georgieva expressed her appreciation for Akufo-Addo's contributions, stating, "The policies and reforms during your administration have laid the groundwork for Ghana's future."
She also praised the former president's efforts during the COVID-19 pandemic, emphasizing his advocacy for the Sub-Saharan Africa region, which, she noted, helped mobilize critical resources to combat the crisis.
Further acknowledging his government's economic initiatives, Georgieva highlighted Ghana's successful collaboration with the International Monetary Fund.
"I also want to commend the excellent collaboration your government has had with the International Monetary Fund. The recent completion of the third review of the IMF-supported program and the progress made toward restoring macroeconomic stability over the past few years are a testament to a successful partnership," the letter stated.
President Akufo-Addo's administration sought support from the IMF on July 1, 2022, to address macroeconomic challenges intensified by the COVID-19 pandemic and external shocks, including the geopolitical conflict between Russia and Ukraine.
As part of the IMF-supported program, the government implemented measures to restore fiscal stability and sustainability.
These included the Domestic Debt Exchange Programme (DDEP), the introduction of the e-levy, and new taxes on betting, all aimed at enhancing local revenue mobilization and addressing both domestic and external debt challenges.
