President Akufo-Addo has indicated the country's readiness to head back to the International Capital Market where countries and companies trade and lend financial support.Ghana has been denied access to funds from the international capital market owing to its high indebtedness and inability to pay back.

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As such government sought financial assistance from the International Monetary Fund (IMF) which has provided the country a $3 billion credit facility - a situation believed to paint Ghana in a good light to foreign investors.

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Following the successful IMF deal, President Akufo-Addo has noted that “we have positioned ourselves to be able to go back into the International market which had been a source of funding for us during the first three or four years of our government.”He stated that it is opportune for Ghana to return at a time of global savings while acknowledging the relevance of being prudent.

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“There is no rush but obviously why not take advantage of global savings, it makes a lot of sense to me. We will try as much as possible to maintain the discipline which is required and the most important requisite for a successful programme.”He made the comments while speaking at the Qatar-Africa Economic Forum in Doha on Tuesday, May 23, 2023.

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But prior to the president's remark, the Finance Minister Ken Ofori-Atta while engaging the press on May 18, 2023, also stated that “there is no rush in going back to the international capital market" adding that "our expectation is that, by managing our expenditure and increasing our revenue, we will have the resources to address our needs.

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"Meanwhile, government is working on enhancing its domestic revenue mobilization drive as well as rationalizing its expenditure.“Rationalisation of our expenditure, rationalisation of government expenditure is something that we have given the assurance. Domestic revenue mobilisation is absolutely critical for us and already we are seeing signs.

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“We have a fiscal responsibility law in Ghana that has pegged our fiscal deficit at 5 percent but already we are way above that and the sooner we can bring that to more acceptable levels the better for us.”As part of conditions set by the International Monetary Fund (IMF) for a $3 billion credit facility, Ghana is to bolster its revenue generation measures and cut down its expenditure to check the alarming debt

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deficit.

The Independent Ghana

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