By: Kekeli K. Blamey
President-elect John Dramani Mahama has announced plans to review and adjust Ghana’s existing agreements with development partners, including the International Monetary Fund (IMF) and the World Bank.
This move aims to align these agreements with the country’s current needs and aspirations.
During a courtesy call by the United Nations Resident Coordinator, Charles Abani, Mahama emphasized the importance of creating partnerships that reflect the realities of today and the vision of his incoming government.
He noted that Ghana has a 36-month, $3 billion extended credit facility agreement with the IMF and multiple loan agreements with the World Bank.
Mahama expressed concerns about Ghana’s debt repayments, stating that his government needs to smooth them out to avoid defaulting, which would have catastrophic consequences.
He also acknowledged that the journey to return Ghana’s economy to normalcy will be challenging, but his team is committed to working tirelessly to meet the high expectations of the people.
The President-elect appreciated the UN’s long-standing relationship with Ghana and expressed his government’s readiness to work with the global body to address the suffering of the Ghanaian people.
He also noted that Ghana needs the global community more than ever before, given the current economic crisis.
