February 21, 2017 / 10:50 AM / 5 months ago

Ghana's President Akufo-Addo says economy is in a "bad way"

1 Min Read

ACCRA, Feb 21 (Reuters) - Ghana's President Nana Akufo-Addo said in his first state of the nation address that the country's economy was in a "bad way" and the fiscal deficit for 2016 was 9 percent of GDP on a cash basis.

Akufo-Addo, who took power on Jan. 7, told parliament that a three-year International Monetary Fund programme that began in April 2015 with the aim of stabilizing national finances had failed to meet its objectives. (Reporting by Matthew Mpoke Bigg; Editing by Joe Bavier)

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