Last week, President Akufo-Addo defended the decision by stating that a possible bailout from the Bretton Woods institution will in the short-run repair Ghana’s public finances which have been impacted significantly by recent economic developments. “In our case, we have decided to see the collaboration with the International Monetary Fund to repair in the short run, our public finances, which have taken a severe hit in very recent times,” President Akufo-Addo earlier said. He argued that the previous 17 IMF programmes that Ghana has participated in, never restored anything in the economy as they all failed. “Ghana’s President Akufo-Addo says an IMF bailout is “necessary to restore public finances.” SPOILER ALERT: None of Ghana’s previous 17 IMF bailouts restored anything. Akufo-Addo says an IMF bailout is “necessary to restore public finances.” SPOILER ALERT: None of Ghana’s previous 17 IMF bailouts restored anything.
