Confirmed reports reaching The Accra Report indicate that the Government of Ghana has decided to go for an IMF bailout to save the Ghana’s economy from crumbling.
Ghana is currently reeling under a litany of economic hardships as the local currency (the cedi) is currently the world’s worst-performing currency this year, 2014.
The Ghana cedi has depreciated by 30 percent since the beginning of the year. Inflation has also risen to 15 percent.
President John Mahama’s government had earlier said it would focus on using homegrown solutions to deal with the current economic crises, but the latest information gathered indicates that the Government has had a complete reversal of mind and decided to seek help from the International Monetary Fund.
The decision comes less than 24 hours after a Senior Economic Adviser to the President, Dr Nii Moi Thompson, told Accra-based Citi FM that the Government had not totally shelved the idea of seeking help from the World Bank, and the International Monetary Fund (IMF)
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