Mahama to renegotiate IMF, World Bank deals
President-elect John Dramani Mahama has committed to revisiting Ghana’s agreements with development partners to better align them with the country’s current needs and goals. During a meeting with United Nations Resident Coordinator Charles Abani, Mr. Mahama underscored the importance of partnerships that reflect his incoming administration’s vision and the realities of today.
He described these adjustments as critical to rebuilding the economy and ensuring a smooth transition. Guided by the Presidential (Transition) Act, 2012 (Act 845), the ongoing transition process aims to foster collaboration with stakeholders, including development partners like the International Monetary Fund (IMF) and World Bank.
Mr. Mahama emphasized the need to adjust existing programs, such as the 36-month $3 billion IMF Extended Credit Facility and World Bank initiatives, to manage debt repayments and avoid further defaults. He acknowledged the complexity of these challenges but reaffirmed his commitment to addressing them while meeting the high expectations of Ghanaians.
He also highlighted the importance of global collaboration in tackling issues like food security and economic stability, thanking UN agencies for their continued support. In response, Mr. Abani praised Ghana’s peaceful elections and pledged the UN’s full collaboration with the new administration.
Mahama’s decisive victory, with 56.55% of the votes, underscores his strong mandate to lead Ghana through its economic recovery and development efforts.