Cabinet retreat: IMF bailout is not on agenda – Presidency

The Presidency has debunked media reportage that the government will be considering an IMF bailout as President Nana Addo Dankwa Akufo-Addo chairs a cabinet retreat that started on Thursday, March 17 and is expected to end on Sunday, March 20, 2022.

Ghana is currently faced with economic difficulties that have necessitated a crunch cabinet retreat at the Peduase Lodge involving all NPP MPs, ministers, top government appointees, and the governing New Patriotic Party (NPP) leadership.

Some media reportage insinuated that Ghana was going to consider a return to the International Monetary Fund (IMF) for financial support in the face of the current fiscal hurdles.

But it appears that, that will not be part of the government’s agenda at the ongoing retreat.

A post on the verified Facebook page of Ghana’s Presidency, Jubilee House, indicated emphatically that, an IMF Bailout is not on the country’s agenda as Cabinet considers home-grown solutions in dealing with the challenges facing the country.

“An IMF Bailout is not on the country’s agenda as Cabinet considers home-grown solutions while it discusses fuel price hikes, reopening of borders and other main items,” the post read.

Government for the past few months has reiterated the need for the passage of the Electronic Transaction Levy (E-Levy) to rake in internal revenue to address the current economic challenges.