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A $3 billion IMF Bailout Will Not Instantly Solve Ghana’s Economic Problems

President Nana Akufo-Addo said that the IMF bailout will restore trust and put the nation’s economy back on a solid foundation in a televised speech to the nation on Sunday. “It should lead to the restoration of confidence and the reopening of avenues that have been closed to us this past year and a half. It should also lead to the resumption of many of the infrastructural projects that have stalled,” President Akufo-Addo said. In order to help the economy recover from the effects of the worldwide epidemic and Russia’s invasion of Ukraine, he recognized that asking for assistance from the IMF was a difficult but essential decision. But others claim that egregious mismanagement is a contributing factor in the nation’s economic woes.