President Nana Addo Dankwa Akufo-Addo has said that going to the International Monetary Fund (IMF) for support was not part of the economic transformation agenda that he was pursuing.

He said this was especially so after his government successfully exited an IMF programme that he inherited.

Addressing the nation on Sunday, May 28, he said “It was a painful decision for me to take, because going to the IMF was not part of the economic transformation agenda I had been pursuing, especially as my government had gone the extra mile to bring to a successful end the IMF programme we inherited from the previous government.”

He further said that the $3billion facility approved by the Fund would not end Ghana’s problems.

“Access to the IMF facility will not spell the immediate end of the difficulties we are in presently.

“But the fact that we’ve been able to negotiate such a deal sends a positive message to our creditors and investors,”he said.

He added “It should lead to the restoration of confidence and the reopening of avenues that have been closed to us this past year and a half.”

The approval was secured on Wednesday, May 17 with the first tranche of $600 million received.

Sompaonline.com