President-elect John Dramani Mahama has vowed to renegotiate Ghana's existing deals with the International Monetary Fund (IMF) and the World Bank. This move aims to realign the country's agreements with its current needs and aspirations. Mahama emphasized the importance of creating partnerships that reflect the realities of today and the vision of his incoming government.
During a courtesy call with the United Nations Resident Coordinator, Charles Abani, Mahama noted that adjusting Ghana's agreements with development partners is crucial. This adjustment will enable the new government to start rebuilding the economy and the country on the same page as its development partners.
Ghana is currently under a 36-month, $3 billion Extended Credit Facility with the IMF. The country has also signed several agreements with the World Bank, including a $250 million Ghana Financial Stability Project and another $250 million for the Ghana Energy Sector Recovery Programme. Mahama stressed the urgency of managing debt repayments while working to stabilize the economy.
The President-elect acknowledged that renegotiating Ghana's deals with the IMF and World Bank won't be an easy task. However, he's committed to working tirelessly to meet the high expectations of Ghanaians. Mahama secured 6,328,397 valid votes, representing 56.55%, in the recent elections, underscoring his strong mandate.
Mahama also highlighted the critical role of global partnerships in Ghana's recovery. He lauded the United Nations and its agencies for their longstanding support, particularly in addressing challenges such as food security. The President-elect expressed readiness to collaborate with agencies like UNICEF and UNHCR to uplift Ghanaians from the current economic challenges.
The United Nations has assured Ghana of its collaboration and support during Mahama's presidency. The UN Resident Coordinator, Charles Abani, commended Ghana's seamless 2024 elections, describing the polls as a hallmark of democratic excellence in Africa. With the UN's support, Mahama is poised to navigate the complex process of renegotiating Ghana's deals with the IMF and World Bank.
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