Be circumspect in reports on IMF deal – Akufo-Addo to media
President, Nana Addo Dankwa Akufo-Addo has entreated journalists to be circumspect in their reportage as the government seeks the intervention of the International Monetary Fund (IMF) to stabilize the economy.
Speaking to journalists at a dinner organized by the Ghana Journalists Association in Accra, the President encouraged media practitioners to seek information directly from the Ministry of Finance or the Information Ministry in order to churn out accurate information.
“As natural as it should, there will be those to skew truth with the ultimate aim to misinform the Ghanaian people and create disaffection for government. I will urge the [media] not to fall prey to the schemes of such persons.”
Ghana is currently going through a severe economic crisis which government attributes to COVID-19 and the Russia-Ukraine war.
The country is currently seeking a $3 billion extended credit facility from the International Monetary Fund (IMF) to salvage the ailing economy, a few years after exiting a similar programme.
The government last week secured a staff level agreement with the IMF awaiting Board approval from the Bretton Woods institution.
Ghana’s inflation hit 50.3% in November with the cedi losing more than 50% of its value to major trading currencies especially the dollar since the beginning of 2022.
Although the currency seems to have appreciated drastically in December, analysts say the cedi may depreciate again if the gains are not sustained with prudent economic measures.
Government also extended the deadline for its domestic exchange programme.
This follows the rejection of the programme by labour unions and institutions within the financial sector.
Ghana’s total debt jumped from GH¢120 billion to GH¢450 billion within six years.
“Information regarding the ongoing process is readily available at the Ministries of Finance and Information and I entreat all of you to assist in this endeavour on the basis of well-established principles that facts are sacred and comment is free”, President Akufo-Addo expressed.
Leave A Comment