Authorities is relying on a home-grown financial restoration plan

Nana Akufo-Addo’s authorities has come underneath critical stress from rising inflation, the excessive price of gasoline, the depreciating cedi and restricted entry to worldwide monetary markets.

And having criticised his predecessor John Mahama for agreeing to an IMF programme in 2015, Akufo-Addo needs to keep away from the political penalties of searching for a bailout now.

The earlier $925.9m IMF bailout bundle introduced a web freeze on employment within the public sector, besides in vital areas, a ten% cap on the nominal enhance within the whole wage invoice, a tighter financial coverage stance and the removing of subsidies on utilities and petroleum merchandise. The programme was aimed toward restoring the nation’s debt sustainability and macroeconomic stability.

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