The President Nana Akufo Addo today, Friday succumbed to public pressure as he directs the Finance Minister, Ken Ofori-Atta to turn to the International Monetary Fund (IMF) for help in dealing with Ghana’s economic crisis.

In a statement issued by the Information Ministry today, Government says it will hold formal talks with IMF on a support package.

The decision by Government comes after Arise Ghana Movement held a demonstration against persistent and astronomical hikes in fuel prices, worsening public debt, rising inflation by the Akufo-Addo/Bawumia government that has imposed excruciating economic hardships on Ghanaians.

“The President of the Republic, Nana Addo Dankwa Akufo-Addo, has authorized Finance Minister Ken Ofori-Atta to commence formal engagements with the International Monetary Fund (IMF), inviting the Fund to support an economic program put together by the Government of Ghana.” the statement said.

The Information Ministry added that the ”President held a telephone discussion with the IMF Managing Director, Miss Kristalina Georgievs, conveying Ghana’s decision to engage with the Fund”.

According to the Information Ministry, Government’s engagement with the IMF will seek to provide balance of payment support as part of a broader effort to quicken Ghana’s build back in the face of challenges induced by the Covid-19 pandemic and, recently, the Russia Ukraine crises.