Ghana’s newly elected President, John Dramani Mahama, has affirmed his commitment to the country’s $3 billion IMF bailout program while advocating for necessary adjustments, clarifying his previous statements regarding renegotiation.

🗣 “When I talk about renegotiation, I don’t mean we’re jettisoning the programme,” Mahama, who secured a decisive victory in the recent elections, told Western media. “We’re bound by it but what we’re saying is within the programme, it should be possible to make some adjustments to suit reality.”

His administration plans to focus on curbing wasteful government spending and addressing challenges within the energy sector, specifically targeting the financially troubled national electricity company. Mahama, who inherits a nation grappling with its worst economic crisis in decades, also intends to tackle inflation and currency depreciation.

🗣 “The economic situation is dire … and I’m going to put my soul, physique and everything into it and focus on making lives better for Ghanaians,” he said, criticizing the IMF program’s “multiplicity of taxes,” claiming they hinder business growth.

The politician also expressed dissatisfaction with the lack of pressure on the government to cut wasteful expenditure, pledging to review the program to reduce spending, starting with the presidential office itself. “If the president is asking us to tighten our belt, he must also tighten his,” said Mahama, whose party also won a majority in parliament.