President Nana Akufo-Addo has finally succumbed to economic pressures to seek a bailout for Ghana at the International Monetary Fund (IMF).
Economic watchers expected President Akufo-Addo to seek the relief long ago.
However, government convinced itself it could use homegrown policies such as the E-levy to boost the financials of the nation.
In May 2022, President Akufo-Addo explicitly told BBC’s Peter Okwoche in an interview that IMF was not an option and that his government had initiated steps to reduce the level of hardship in Ghana.
But the reality on the ground has forced the government to run to IMF for economic support.
Watch the interview below.
In May, Ghana's President Nana Akufo-Addo insisted the country's economy was not doing 'terribly' in an interview with Peter @okwoche.
With news that the country is now asking the International Monetary Fund for a bailout, was that view short-sighted? pic.twitter.com/Et20S3MqTJ
— BBC News Africa (@BBCAfrica) July 5, 2022