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Economic crisis: 2023 will be our comeback year – Ofori-Atta

Ken Ofori-Atta

Ken Ofori-Atta

The Finance Minister, Ken Ofori-Atta, says the government will put in place stronger foundations in 2023 to change the country’s economy for the better.

Mr Ofori-Atta made the comments when he addressed the public on Monday regarding the suspension of the external debt payment.

“The ensuing years will focus on building an entrepreneurial and export-driven economy as we grow the economy to protect and create jobs, tackle inflation, and strengthen our currency. The importation of food should soon be a thing of the past.

“2023 must be our “comeback” year. A year in which we put in place stronger foundations that would allow us to change our country for the better and in a way that is enduring, inclusive and transformational.

“We all have a role to play. And I urge us all to work together with the Government and support the various interventions being implemented to kick–start our recovery in a determined, bold and courageous way,” Mr Ofori-Atta said.

Mr Ofori-Atta also stated that the recently announced debt exchange programme and the staff-level agreement with the International Monetary Fund on a $3 billion bailout have contributed to the rebound of the economy.

He said the government is willing to do everything possible to sustain the gains that have led to the revival of the economy.

“The launch of the debt exchange programme, coupled with the signing of the Staff Level Agreement with the International Monetary Fund, have aided our stability efforts and have in particular contributed significantly to the rebound of our currency.

“While accommodating the inputs of stakeholders, we must do all we can to sustain the gains of these initiatives keeping in sight the urgency of obtaining IMF Board approval in Q1 2023. The cost of this not succeeding will be too huge for our economy.”


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