“If we stop being beggars and spend African money inside the continent, Africa will not need to ask for respect from anyone. We will get the respect we deserve. If we make it prosperous as it should be, respect will follow,” Akufo-Addo is quoted to have said.
He admonished Africans living abroad to bring their expertise and wealthy knowledge on board to help shape the image of the continent. He believes that it will take unity of purpose to succeed in changing the narrative and enhance Africa’s image.
“Africans are more resilient outside the continent than inside. We must bear in mind that to the outside world, [there’s] nothing like Nigeria, Ghana or Kenya, we are simply Africans. Our destiny as people depends on each other.”
Akufo-Addo’s New Patriotic Party administration is currently begging the International Monetary Fund (IMF) for a three-billion-dollar bailout from the severe economic crisis the country is currently grappling with. It is the reason why his call on African leaders at this time, to stop begging sounds interesting. Maybe, his admonishment stems from the lessons he has picked up from his government’s dealings with the IMF over the past few months.
Meanwhile, the IMF has announced that it has reached a staff-level agreement with the government of Ghana on the $3 billion bailout.
“The authorities’ strong reform program aims at restoring macroeconomic stability and debt sustainability while protecting the vulnerable, preserving financial stability, and laying the foundation for strong and inclusive recovery. To support the objective of restoring public debt sustainability, the authorities have launched a comprehensive debt operation.
“In addition to a frontloaded fiscal consolidation and measures to reduce inflation and rebuild external buffers, the program envisages wide-ranging reforms to address structural weaknesses and enhance resilience to shocks,” the fund said in a statement on its website.
An International Monetary Fund (IMF) team led by Mr Stéphane Roudet, Mission Chief for Ghana, visited Accra during December 1 – 13, 2022, to assess the country’s situation, engage with various stakeholders and then discuss policy and reform plans with the Ghanaian authorities.