ACCRA, Feb. 14 (Xinhua) -- Ghanaian President Nana Addo Dankwa Akufo-Addo on Wednesday announced changes to his cabinet, replacing the finance minister and some other ministers in the latest reshuffle.

In a statement by the presidency, the president named Mohammed Amin Adams, a minister of State at the Finance Ministry, to replace Ken Ofori-Atta as the new finance minister.

"The president personally expressed his sincere appreciation directly to each of the ministers and deputy ministers, who have exited government, for their commitment, competence, dedication and hard work in office," the statement said.

Ghana has been grappling with a severe economic crisis in recent years, marked by high inflation and living costs.

Last May, the government secured a loan of 3 billion U.S. dollars from the International Monetary Fund to support its economic reforms, which have started yielding some positive results.