Welcoming the “good news” of the approval of the facility by the IMF Executive Board, the President said it was therefore, a challenge for the government, for instance, to live within its means and exercise fiscal discipline.

 

President Mahama said this when he joined thousands of Muslims from across the country at Aboabo in Kumasi to celebrate Mawlid an-Nabi, an Islamic festival that commemorates the birth of the Prophet Mohammed.

 

It is a spiritual and social occasion for Muslims who remind themselves of the life story of the Prophet, and the positive impact it has on the Islamic community.

 

The programme was organised at midnight of Saturday eating into the early hours of Sunday.

 

Background

 

Last Friday, the IMF Executive Board approved a three-year $918 million financial assistance deal for Ghana, aimed at restoring economic stability and boosting job growth.

 

The board said it would disburse about $114.8 million immediately.

 

A statement from the IMF said, "The program aims to restore debt sustainability and macroeconomic stability to foster a return to high growth and job creation, while protecting social spending.”

 

Stability of economy

 

President Mahama said the programme would allow for the stabilisation of the economy, and strengthen the national currency and bilateral and multilateral partnerships.

 

He said although the government was working hard to address the infrastructure deficit, it was clear it could not realise the task alone.

 

It was therefore important to seek additional support from elsewhere to support the national budget

 

On the power crisis, the President re-emphasised government’s determination to end it soon.

 

Nigeria elections

 

Taking a look at the just-ended Nigerian presidential elections which saw former military leader General Muhammadu Buhari defeating the incumbent Goodluck Jonathan, the President said it had strengthened democracy in Africa’s most populous nation.

 

Just before the elections, the President visited Nigeria and held talks with the two main contenders urging them to accept the results to maintain the peace of that country to which they agreed.

 

He was happy that the work he did bore fruits and today Nigeria was hailed the world over.

 

Peace

 

President Mahama said there was nothing worse than living in a country where there was war.

 

“We must treasure the peace Allah has given us,” he said.

 

Describing ethnicity and religion as two major flashpoints for conflict, President Mahama said it was refreshing that Ghana had lived above them.

 

He thanked traditional and religious leaders for creating the environment for peace in the country.

 

He commended the Hajj committee for the successful organisation of last Year’s pilgrimage and prayed that this year would even be more successful.

 

Present were the Chief Imam, Sheikh Usman Nuhu Sharubutu and other Muslim leaders.