Prez. Mahama says this may be the last time Ghana is going to IMF

• Posted on October 6, 2014October 6, 2014
• by Nana Kwesi Coomson
• Comment

President John Dramani Mahama is hopeful that current talks with the International Monetary Fund for a soution to the country’s dire economic straits may be the last time Ghana is turning to the Bretton Woods institution for assisstance.

He said government would tighten its fiscal policies in order to ensure that the financial indiscipline that occasioned the economic meltdown and created the conditions that compelled Ghana to turn to the IMF is not repeated.

President Mahama was addressing supporters of the governing National Democratic Congress (NDC) who converged at the Kotoka International Airport Sunday to welcome him from the United States where he attended the 69th UN General Assembly meeting.

He spoke on the gains being made by the local currency, the cedi, and said that was an indication that the economy is pulling back from the brink of collapse.

Government is currently in talks with the IMF for technical and financial assistance.

It says the intervention of the IMF is to give policy credibility to the government’s home grown solutions as well as boost investor confidence.

President Mahama said the country has gone in and out of IMF prescriptions and expressed the hope that this will be the last time Ghana is goingin for  IMF assistance.

Speaking on the Ebola Visrus which was the major crux of his address to the UN, the president said Ghana will continue to give assistance to other countries battling the deadly virus which has so far claimed 3,000 lives in Liberia, Sierra Leone, Guinea and Nigeria.

He assured that government is also working to ensure that the disease does not spread to Ghana.

By:  Malik Abass Daabu