Ghana could secure a deal with the International Monetary Fund (IMF) by the end of the year, President Akufo-Addo has said.
The West African nation, according to Mr. Akufo-Addo, is likely to arrive at an agreement by December to get the crucial loan.
He believes this will help “repair the short term of public finances and restore our balance of payment whiles we continue to work on the medium to long term structural changes that are at the heart of our goal of constructing a resilient robust Ghanaian economy and building a Ghana Beyond Aid.”
The country is in an economic crisis leaving a dire impact on all sectors.Ghana is currently at the doors of the Fund seeking support amid intensifying hardship, a rising cost of living and a depreciating cedi.
But in an address to the nation on Sunday, President Akufo-Addo insisted that the government is committed to ensuring that the economy is back on track.
“We are working towards securing a deal with the IMF by the end of the year,” he said on Sunday.
“This will give further credence to the measures Government is taking to stabilize and grow the economy, as well as shore up our currency.”