'IMF deal will give credibility to our severely-hit balance of payment situation' - Akufo-Addo

President Nana Addo Dankwa Akufo-Addo has said a deal with the IMF will turn Ghana's economy around for the better.

Speaking at the Abu Dhabi Sustainability Week in Dubai, the Ghanaian leader said: "We are working to grow the economy to a much faster rate this year, our target being a 5.6-per cent GDP growth rate".

"To enhance the prospects of a win-win situation for the private sector and the country, in our case, we see our collaboration with the IMF to repair, in the short term, our public finance and give credibility to our balance of payment which has taken a severe hit in very recent times."

“I am very confident that we will emerge from this as a stronger and more resilient economy and advance toward our goal of reaching the Ghana Beyond Aid [goal].”

Ghana reached a staff-level deal with the IMF in late December 2022.

The board of the Bretton Wood institution is yet to approve the $3 billion extended credit facility.