{"id":265620,"date":"2024-12-14T19:10:14","date_gmt":"2024-12-14T19:10:14","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/12\/14\/ghana-president-elect-john-mahama-set-to-look-into-3-billion-imf-loan\/"},"modified":"2024-12-14T19:10:14","modified_gmt":"2024-12-14T19:10:14","slug":"ghana-president-elect-john-mahama-set-to-look-into-3-billion-imf-loan","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/12\/14\/ghana-president-elect-john-mahama-set-to-look-into-3-billion-imf-loan\/","title":{"rendered":"Ghana president-elect John Mahama set to look into $3 billion IMF loan"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"ringCommonDetail ringBlockType-paragraph \">\n<p>    <!-- paragraph: supported --><\/p>\n<p>\n        The president-elect noted that while he wants to review the $3 billion IMF loan, he has no plans to do away with the loan.\n    <\/p>\n<\/p><\/div>\n<div class=\"ringCommonDetail ringBlockType-paragraph \">\n<p>    <!-- paragraph: supported --><\/p>\n<p>\n        John Mahama had previously announced that he would renegotiate the IMF agreement that the departing President Nana Akufo&#8217;s administration had acquired.\n    <\/p>\n<\/p><\/div>\n<div class=\"ringCommonDetail ringBlockType-paragraph \">\n<p>    <!-- paragraph: supported --><\/p>\n<p>\n        &#8220;When I talk about renegotiation, I don&#8217;t mean we&#8217;re jettisoning the program,&#8221; Mahama said.\n    <\/p>\n<\/p><\/div>\n<div class=\"ringCommonDetail ringBlockType-paragraph \">\n<p>    <!-- paragraph: supported --><\/p>\n<p>\n        &#8220;We&#8217;re bound by it but what we&#8217;re saying is within the program, it should be possible to make some adjustments to suit reality,&#8221; he added.\n    <\/p>\n<\/p><\/div>\n<div class=\"ringCommonDetail ringBlockType-paragraph \">\n<p>    <!-- paragraph: supported --><\/p>\n<p>\n        Inflation was cut in half and the economy resumed growing owing to the IMF deal, although Mahama stated that more effort was required to alleviate the country&#8217;s financial crisis.\n    <\/p>\n<\/p><\/div>\n<div class=\"ringCommonDetail ringBlockType-paragraph \">\n<p>    <!-- paragraph: supported --><\/p>\n<p>\n        &#8220;The economic situation is dire &#8230; and I&#8217;m going to put my soul, physique and everything into it and focus on making lives better for Ghanaians,&#8221; said Mahama.\n    <\/p>\n<\/p><\/div>\n<div class=\"ringCommonDetail ringBlockType-paragraph \">\n<p>    <!-- paragraph: supported --><\/p>\n<p>\n        The president-elect claimed that Ghana was &#8220;unpleasant for business&#8221; due to the &#8220;multiplicity of taxes&#8221; agreed upon as part of the IMF program.\n    <\/p>\n<\/p><\/div>\n<div class=\"ringCommonDetail ringBlockType-paragraph \">\n<p>    <!-- paragraph: supported --><\/p>\n<p>\n        &#8220;We also think that (the IMF) have not put enough pressure on the government to cut wasteful expenditures,&#8221; he said.\n    <\/p>\n<\/p><\/div>\n<div class=\"ringCommonDetail ringBlockType-paragraph \">\n<p>    <!-- paragraph: supported --><\/p>\n<p>\n        &#8220;If the president is asking us to tighten our belt, he must also tighten his,&#8221; he added.\n    <\/p>\n<\/p><\/div>\n<div class=\"ringCommonDetail ringBlockType-paragraph \">\n<p>    <!-- paragraph: supported --><\/p>\n<p>\n        In an exclusive with Reuters, John Mahama said that he would also aim to address inflation and currency devaluation in order to alleviate West Africa&#8217;s cost-of-living issue.\n    <\/p>\n<\/p><\/div>\n<div class=\"ringCommonDetail ringBlockType-paragraph \">\n<p>    <!-- paragraph: supported --><\/p>\n<p>\n        A recent report revealed that Ghana&#8217;s economy saw its fastest growth since 2019, following a period of significant economic downturn in the previous years.\n    <\/p>\n<\/p><\/div>\n<div class=\"ringCommonDetail ringBlockType-paragraph \">\n<p>    <!-- paragraph: supported --><\/p>\n<p>\n        The country&#8217;s Gross Domestic Product increased by 7.2% in the three months leading up to September compared to the same time last year.\n    <\/p>\n<\/p><\/div>\n<div class=\"ringCommonDetail ringBlockType-paragraph \">\n<p>    <!-- paragraph: supported --><\/p>\n<p>\n        Government Statistician Samuel Kobina gave this information to reporters in Ghana&#8217;s capital, Accra, at a press event on Wednesday.\n    <\/p>\n<\/p><\/div>\n<p>    <!-- heading: supported --><\/p>\n<h3 class=\"heading-h3 replaced-h1\" id=\"nav-ring-15\">\n        IMF loan to Ghana<br \/>\n    <\/h3>\n<\/p>\n<div class=\"ringCommonDetail ringBlockType-paragraph \">\n<p>    <!-- paragraph: supported --><\/p>\n<p>\n        The International Monetary Fund&#8217;s executive board approved a $3 billion, three-year loan proposal for Ghana on May 17.\n    <\/p>\n<\/p><\/div>\n<div class=\"ringCommonDetail ringBlockType-paragraph \">\n<p>    <!-- paragraph: supported --><\/p>\n<p>\n        This offered a way out of the worst economic crisis the country has experienced in a generation and allowed for the immediate payment of almost $600 million.\n    <\/p>\n<\/p><\/div>\n<div class=\"ringCommonDetail ringBlockType-paragraph \">\n<p>    <!-- paragraph: supported --><\/p>\n<p>\n        This timely payment of $600 million follows Ghana&#8217;s efforts to get a $3 billion IMF loan, which it has been attempting to do since 2022.\n    <\/p>\n<\/p><\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The president-elect noted that while he wants to review the $3 billion IMF loan, he has no plans to do away with the loan. John Mahama had previously announced that he would renegotiate the IMF agreement that the departing President Nana Akufo&#8217;s administration had acquired. &#8220;When I talk about renegotiation, I don&#8217;t mean we&#8217;re jettisoning [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":265621,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-265620","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>Ghana president-elect John Mahama set to look into $3 billion IMF loan - 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\/ghana-president-elect-john-mahama-set-to-look-into-3-billion-imf-loan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ghana president-elect John Mahama set to look into $3 billion IMF loan - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The president-elect noted that while he wants to review the $3 billion IMF loan, he has no plans to do away with the loan. 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