Ghana’s Finance Minister Ken Ofori-Atta has revealed that the Ghanaian government plans not to seek International Monetary Fund (IMF) assistance in relieving its debt.
Ghana’s government in March announced a raft of spending cuts to tackle inflation, reduce deficit, restore a depreciating local currency and reassure spooked investors.
“It’s about validating the programme we have in place and finding other ways of handling our debt without going to the fund,’’ Ofori-Atta said on Thursday in Accra
The West African gold, oil and cocoa producer saw consumer inflation rise to an 18-year record of almost 24 per cent in April despite efforts to contain price hikes and recover its debt-ridden economy.