Ghana will do without the credits of the International Monetary Fund. He plans to finance his budget through his own revenue. This is the decision of Ghanaian President Nana Akufo-Addo, elected in late 2016. He believes that “We must abandon our dependency mentality that relies on aid and charity, dissociate Africa from the image of beggar who is associated “.
Nana Akufo-Addo had confirmed her intention not to have recourse to assistance from the International Monetary Fund (IMF) at the end of the current three-year economic and financial program supported by the Extended Credit Facility (ECF). It was on the occasion of his second speech on the state of the nation, Thursday, February 8, 2018, in front of the parliament. “I am pleased to announce that the program supported by the Enhanced Credit Facility, which began in 2015 and is supported by the IMF, will end this year,” he said. Adding that “the relatively good macroeconomic performance in 2017 will strongly support the success of this program (…) We are determined to put in place measures to ensure irreversibility and maintain macroeconomic stability, so that we have no reason to ask again the assistance of this powerful world organization “. In other words, the Ghanaian head of state decided not to seek renewal of the IMF program.
According to the World Bank, Ghana’s GDP growth will be the highest on the African continent, ahead of Ethiopia’s at almost 8.5%. The government intends to make good use of it to fill the gap, which it aims to reduce to 3% in 2019.