{"id":265350,"date":"2024-12-14T08:11:47","date_gmt":"2024-12-14T08:11:47","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/12\/14\/avoid-imf-explore-other-avenues-for-funds\/"},"modified":"2024-12-14T08:11:47","modified_gmt":"2024-12-14T08:11:47","slug":"avoid-imf-explore-other-avenues-for-funds","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/12\/14\/avoid-imf-explore-other-avenues-for-funds\/","title":{"rendered":"Avoid IMF, explore other avenues for funds"},"content":{"rendered":"<p><\/p>\n<div>\n<p class=\"article-image\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.ghanaweb.com\/imagelib\/pics\/970\/97023089.295.jpg\" alt=\"Independent presidential candidate, Kofi Koranteng\" title=\"Independent presidential candidate, Kofi Koranteng\" width=\"295\" height=\"166\" \/> <span class=\"image_caption\"><span>Independent presidential candidate, Kofi Koranteng<\/span><\/span><\/p>\n<\/div>\n<div style=\"-webkit-user-select: none; -webkit-touch-callout: none; -moz-user-select: none; -ms-user-select: none; user-select: none;\">\n<p id=\"article-123\">Independent presidential candidate Kofi Koranteng, has urged the President-elect, John Dramani Mahama, to refrain from engaging with the International Monetary Fund (IMF) and instead explore other avenues to resolve Ghana\u2019s economic challenges.<\/p>\n<p>He questioned how the country would generate the necessary funds through the IMF, emphasising the importance of finding alternative solutions.<\/p>\n<p>Speaking on JoyNews, an Accra-based TV station, he said, \u201cGhana has records, so the government should go in and extract reviews.\u201d<\/p>\n<p>President-elect Mahama had ex\u00adpressed his intention to renegotiate the terms of an IMF bailout if he wins the December elections.<\/p>\n<p>He also outlined plans to in\u00adcrease local ownership of future oil and mining projects in an effort to strengthen Ghana\u2019s economy.<\/p>\n<p>President-elect Mahama attribut\u00aded the country\u2019s fiscal difficulties to a combination of factors, including years of excessive borrowing, the COVID-19 pandemic, the impact of the war in Ukraine, and rising global interest rates.<\/p>\n<p>Ghana\u2019s external debt, which stood at $30 billion in 2022, led to the country defaulting on a signifi\u00adcant portion of its obligations.<\/p>\n<p>In response, the IMF has already disbursed $1.56 billion to Ghana, with an additional $360 million scheduled for release by December<\/p>\n<p>However, Mahama stated that \u201cI will seek further IMF assis\u00adtance to help Ghana resume debt repayments and stabilise the national economy.\u201d<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Independent presidential candidate, Kofi Koranteng Independent presidential candidate Kofi Koranteng, has urged the President-elect, John Dramani Mahama, to refrain from engaging with the International Monetary Fund (IMF) and instead explore other avenues to resolve Ghana\u2019s economic challenges. He questioned how the country would generate the necessary funds through the IMF, emphasising the importance of finding [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":265351,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-265350","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Avoid IMF, explore other avenues for funds - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/12\/14\/avoid-imf-explore-other-avenues-for-funds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Avoid IMF, explore other avenues for funds - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Independent presidential candidate, Kofi Koranteng Independent presidential candidate Kofi Koranteng, has urged the President-elect, John Dramani Mahama, to refrain from engaging with the International Monetary Fund (IMF) and instead explore other avenues to resolve Ghana\u2019s economic challenges. 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