Ghana seeking more financial aide from the World Bank according to President Akufo-Addo

Ghanaian President, Nana Addo Dankwa Akufo-Addo has said that the Finance Minister, Ken Ofori Atta is holding discussions with the World Bank to raise more funds from to tackle the effect of the novel coronavirus on the country’s economy.

Nana Addo

The President said this when he addressed workers and the entire nation on May Day. This year due to coronavirus and the ban on social gathering, the usual gathering of workers from the national level to the local assembly levels did not happen.

However, the president addressed workers from the studios of the Ghana Broadcasting Corporation (GBC). He said: “discussions are ongoing with the World Bank to raise more funds which should be completed soon.”

“I have charged the Minister of Finance to work with the Bank of Ghana to design innovative policies and find more resources to strengthen the productive sectors of the economy particularly industry and agriculture. I understand that the process will shortly yield positive results.”

“The Minister for Finance and his South African counterpart are leading the efforts of African ministers of finance to take debt reliefs for our economies,” he added.

He further stated that “the World Bank has granted a debt repayment standstill for the next nine months which will result in our delayed principal interest payments totaling $500million.”

The president indicated that a priority for him is job creation.

He said because of this, measures have been put in place to create jobs for Ghanaians and also create an enabling environment for Ghanaians to create jobs and wealth for themselves.

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