Accra: President John Dramani Mahama has announced that Ghana's current 17th International Monetary Fund (IMF) bailout must be the last for the country. He emphasized the government's commitment to strengthening domestic revenue mobilization, restoring fiscal discipline, rebuilding confidence in the financial sector, and supporting indigenous enterprises for growth.
According to Ghana News Agency, President Mahama spoke during the 77th Annual New Year School and Conference held at the University of Ghana, Accra. He remarked on the importance of achieving economic resilience not just through austerity but through production, inclusion, and shared prosperity.
The four-day event was organized by the School of Continuing and Distance Education under the College of Education of the University of Ghana, themed 'Building the Ghana We Want, Together for Sustainable Development.' President Mahama highlighted the success of the current extended credit facility programme with the IMF and predicted its conclusion by mid-year.
He expressed hope that this bailout would mark the last time Ghana seeks assistance from the IMF, though he acknowledged the potential for continued collaboration under Article 4 and other instruments. 'It will definitely be the last time we go on our knees to beg for a bailout,' he asserted.
Emphasizing human capital development as a growth driver, President Mahama noted that no nation develops beyond the quality of its people. He urged Ghanaians to enhance educational outcomes, particularly at the basic level, to equip children with essential skills for higher education.
Madam Marietta Agyeiwaa Brew, Chairperson of the University Council, praised the Annual New Year School and Conference as a platform for critical national discourse. She emphasized its role in driving a research and development agenda that impacts the nation beyond the university.