President Akufo-Addo has stated that half of arrears inherited from the Mahama-led administration have been paid.
President Akufo-Addo who reiterated that his administration inherited a bankrupt economy said, through the assistance of the Economic management team led by vice President Mahamudu Bawumia, the economy is taking shape.
“We have increased our international reserves, maintained relative exchange rate stability, and reduced the debt to GDP ratio and the rate of debt accumulation.
He continued that “We have paid almost half of arrears inherited, and, crucially, we are current on obligations to statutory funds” he said.
He made this known during the presentation of his second state of the Nations Address, Thursday.
According to President Akufo-Addo, government is determined to put in place measures to ensure irreversibility, and sustain macroeconomic stability, “so that we will have no reason to seek again the assistance of that powerful global body”.