Mahama to reconsider agreements with IMF and World bank
President-elect John Dramani Mahama has pledged to review and realign Ghana’s agreements with development partners to address the nation’s pressing economic challenges and aspirations. Speaking during a meeting with the United Nations Resident Coordinator, Charles Abani, Mr. Mahama emphasized the need for partnerships that align with his government’s vision and the realities of today. He stressed that these adjustments are essential to rebuild the economy and foster sustainable development.
The transition process will adhere to the Presidential (Transition) Act, 2012 (Act 845), which mandates the formation of a Transition Team within 24 hours of the election results. This legal framework ensures a smooth handover and continuity, paving the way for effective collaboration with international stakeholders.
Mr. Mahama highlighted the importance of engaging swiftly with the International Monetary Fund (IMF) and the World Bank to adapt ongoing programmes to the government’s priorities. With Ghana currently under a $3 billion IMF Extended Credit Facility and additional World Bank agreements, including $250 million for financial stability and energy recovery projects, Mr. Mahama underscored the need to manage debt repayments effectively to avoid further defaults.
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Acknowledging the challenges ahead, Mr. Mahama reaffirmed his commitment to meeting the high expectations of Ghanaians. He also stressed the critical role of global partnerships, lauding the United Nations and its agencies for their support in addressing issues like food security. He expressed readiness to collaborate with organizations like UNICEF and UNHCR to address economic difficulties and uplift citizens.
UN Resident Coordinator Charles Abani praised Ghana’s seamless 2024 elections, reaffirming the UN’s commitment to support the incoming administration. Mr. Mahama’s decisive victory, with 56.55% of the vote, signals a strong mandate to lead the country toward recovery and progress.
Source: Xtrememediaoonline.com