The government of Ghana has debunked assertions that it has made a sudden turnaround from its “Ghana Beyond Aid” slogan by resorting to the International Monetary Fund (IMF) for a bailout.
‘Ghana Beyond Aid’ was a vision of President Nana Addo Dankwa Akufo-Addo to build a Ghana where everyone has access to education, training, and productive employment; where no one goes hungry and everyone has access to the necessities of life including good health care, water, sanitation, and decent housing in line with the Sustainable Development Goals (SDGs).
It focused on changing values, mindsets and attitudes that condition the environment for pursuing development rather than a list of projects to be implemented.
By this initiative, the President’s vision was to ultimately transform Ghana into an aid-free country.
However, with continuous borrowing, which has raised Ghana’s total debt stock to some GH¢391.9 billion as of March 2022, there are submissions that the Ghana Beyond Aid mantra is only a slogan for political expediency, especially as the country has returned to the IMF for economic assistance.
Reacting to these claims, the government said it has not abandoned its pursuit of a Ghana Beyond Aid dream.
A statement from the Ministry of Finance explained that Ghana is only back to the IMF because the world has been hit with major shocks which have impacted the country as well.
“Countries go to the IMF for support when they face challenges and want the needed support to undertake economic programme but lack the required funding,” the statement said.
An IMF programme, the statement noted, is expected to give the country the breathing room to pursue stronger structural reforms that will eventually help Ghana achieve the targets set out in the Ghana Beyond Aid charter.