The vice president, Dr. Mahamadu Bawumia, assured Ghanaians that the country would come out stronger than it was with the International Monetary Fund.
Speaking at the Accra Business School on Thursday, July 14, 2022, he contended that underlying systems are dramatically changed through digitalization and policies that will change the structure of the economy. “We are talking about a completely different Ghana, whose economic structure is being transformed.”
“With enhanced fiscal discipline and structure reforms to restore debt sustainability and growth, we will emerge stronger than we did with the previous 17 IMF programs,” he stated. Dr. Bawumia goes ahead to state that, Ghana has sought help from the IMF for programs on 17 occasions but the structure of the economy has remained the same.
Dr. Bawumia is hopeful that with the fund, the economy will return to life stronger and more stable because of the digitalization transformation. Ghana has been in crisis management due to an increase in commodities, debt unsustainability, and political instability, among others.
“Government has not focused on building systems that will reduce bribery and corruption; systems that will help make delivery of public services efficient. The system that will help enhance domestic revenue mobilization and the system that will make life easier for Ghanaians. ”