"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. It should also lead to the resumption of many of the infrastructural projects that have stalled," President Akufo-Addo said. ADVERTISEMENTDue to its enormous public debt and inflation, Ghana is currently experiencing one of its biggest crises in a generation. The government will be required to lower public spending and boost domestic revenue as part of the IMF bailout. The IMF indicated in a statement that timely debt restructuring agreements with outside creditors would be crucial to the effective implementation of the Extended Credit Facility loan, intended to help Ghana solve immediate policy and financial difficulties.

Source: Daily Nation May 29, 2023 14:32 UTC