Ghana dey go IMF for bailout after living costs in de country continue to dey rise in de country.
President Akufo-Addo direct Finance Minister, Ken Ofori-Atta to start formal engagements plus de International Monetary Fund to support govment economic program.
“De engagement wit IMF go provide balance of payment support as part of broader efforts “ statement wey Information Minister, Kojo Oppong Nkrumah sign reveal.
Govment inside de statement talk say de challenges de country dey face dey come from Covid-19 den de recent Russia-Ukraine crises.
— Ministry of Information (@moigovgh) July 1, 2022
Govment make u-turn on IMF decision
Initially, govment reject de option of going to de IMF for economic bailout.
Finance Minister, Ken Ofori-Atta reveal say de plan he to raise resources within de country to support de economic programs of govment.
“We no dey go IMF, whatever we do we no go go IMF” Ken Ofori-Atta talk.
But de growing pressure on de economy, increasing food prices, fuel price hike den recent agitations make govment reverse de decision to stay off IMF.
Two day demo for President fix de economy
De decision of govment to start talks wit IMF for economic bailout dey come on de back of two-day protest by pressure group, Arise Ghana.
De pressure group, Arise Ghana protest against de “persistent and astronomical fuel price hikes” in de country.
According to de group, dem demonstrate to register dia frustrations about de “economic hardships on Ghanaians.”
After day one of de protest turn chaotic, day two turn out peaceful, demonstrators march go parliament to address leaders of de House about dia challenges as youth of Ghana.
Inflation, fuel price hikes in Ghana
Inflation rate for Ghana reach one of de highest in de history of de country as e catch 27% at de end May.
Starting de tear around 13.9%, de inflation rate shoot up de price of food, goods and services, living costs den tins.
Meanwhile, de hikes in fuel prices also add on to de cost of living as transport affect most parts of de Ghanaian economy.
Ghana be one of de most stable democracies in Africa, but in recent times govment dey talk about possible instability wey people dey try orchestrate.
Expects believe de economy go be major cause for any instability, sake of that make govment reslve de economic issues to reduce de tensions in de country.