President John Mahama has announced that Ghana’s current programme with the International Monetary Fund (IMF) will be the nation’s final financial rescue package.
He pledged to build an economy resilient enough to never again require such intervention.
He made these comments at the opening of the University of Ghana’s 77th Annual New Year School and Conference.
Speaking as the keynote speaker, President Mahama affirmed the success of the ongoing Extended Credit Facility but framed its upcoming conclusion as a national turning point.
“We’ll emerge from the extended credit facility with the IMF towards the middle of this year,” he stated.
“And it is my hope that this will be the very last time we will ever go for a bailout from that international monetary institution.”
With pointed emphasis, he added, “It must be the 17th and the last time that Ghana goes for a bailout from the IMF.”
The President clarified that future engagement with the Fund would shift from financial rescue to technical collaboration.
“We’ll continue our collaboration with the IMF under Article 4 and other instruments… But it will definitely be the last time we go on our knees to beg for a bailout.”
To cement this transition, the President outlined a multi-pronged strategy focused on self-sufficiency. He stressed that enduring economic strength “cannot be achieved through austerity alone, but through production, inclusion and shared prosperity.”
Key to this plan is robust domestic revenue mobilization, restored fiscal discipline, and rebuilding confidence in the financial sector.
NKONKONSA.com
