President-elect John Dramani Mahama has announced plans to revisit Ghana’s agreements with international development partners, including the International Monetary Fund (IMF) and the World Bank, aiming to align these with the nation’s evolving economic needs and strategic priorities.
During a meeting with United Nations Resident Coordinator Charles Abani, Mr. Mahama emphasized the necessity of reshaping partnerships to reflect current realities and the aspirations of his incoming administration, as a transition process is underway.
“This adjustment is crucial and will help put the new government that would be inaugurated next year on the same springboard with our development partners to begin the rebuilding of the economy and the country,” Mahama noted.
The transition is underpinned by the Presidential (Transition) Act, 2012 (Act 845), which requires the establishment of a Transition Team within 24 hours after the election results are declared. This framework ensures a seamless handover, providing the basis for engaging development partners and international institutions promptly.
Mr. Mahama highlighted the urgency of renegotiating ongoing loan programmes, particularly those involving the IMF and the World Bank. Ghana is currently implementing a $3 billion, 36-month Extended Credit Facility with the IMF and agreements such as the $250 million Ghana Financial Stability Project and the $250 million Ghana Energy Sector Recovery Programme with the World Bank.
Acknowledging the critical role of international collaboration, the President-elect underscored the importance of partnerships with UN agencies to address challenges like food security and economic stability.
“We are anticipating that there is going to be some problems with the availability of food, and so how we are able to quicken support to ameliorate the situation is something that we would like to work on” he underscored.
UN Resident Coordinator Charles Abani commended Ghana’s smooth electoral process, describing it as a benchmark for democratic excellence in Africa. “The UN stands ready to support your presidency and Ghana in its efforts to navigate the challenges ahead,” Mr. Abani affirmed.
Mr. Mahama, who won the election with 56.55% of the votes, is set to lead Ghana through a critical phase of economic realignment and recovery, with high public expectations and a focus on strengthening global and domestic partnerships.
