Ghana's President Nana Akufo-Addo has said that the $3bn (£2.4bn) bailout from the IMF will not immediately address the country's economic challenges. In a televised address to the nation on Sunday, the Ghanaian president said the IMF bailout would restore confidence and put the country’s economy back on a sound footing. But critics have said the country’s economic problem is partly due to gross mismanagement. As part of the IMF bailout, the government will be expected to reduce public expenditure and increase domestic revenue. Ghana has already received the first tranche of $600m after the IMF approved a $3bn bailout programme on 17 May.

Source: Daily Nation May 29, 2023 09:38 UTC