Dr. Cassiel Ato Forson, Finance Minister
An Worldwide Financial Fund (IMF) workforce will from immediately February 10, 2025 start sequence of engagements with authorities concerning the financial system.
The discussions will middle on the financial system and the 2025 Finances, which sources say might be offered in Parliament in March 2025.
Different points on the agenda throughout the five-day go to and conferences might be an evaluation of progress made by authorities on negotiations with Exterior Industrial Collectors and the Vitality Sector money owed.
As well as, the IMF would search some readability on authorities’s plans to take care of the nation’s power state of affairs and talks about privatising components of the Electrical energy Firm of Ghana’s (ECG) operations.
Fourth Assessment and IMF go to
Sources have instructed JOYBUSINESS the go to just isn’t a Assessment Mission, however an engagement that can focus primarily on the financial system and the 2025 Finances.
The IMF is predicted to hold out the fourth assessment of Ghana’s programme later this yr.
The assessment, might be based mostly on fiscal information on the financial system ending December 2024.
2025 Finances and discussions on the financial system
As a part of the evaluation, the IMF will be sure that the 2025 Finances is consistent with the Fund’s programme with Ghana, notably to enhance income mobilization.
Ghana’s programme with the IMF is centered on income mobilization and lowering the nation’s debt inventory to sustainable ranges.
Sources say the workforce will as an example search readability on authorities’s plans to fill the income gap that might be created, if the Finance Minister, Dr. Ato Forson goes forward to take away taxes just like the Betting Tax, Covid-19 Levy and the E-Levy.
It’s estimated that Ghana may lose about 10 billion cedis yearly, if the Finance Minister goes forward to take away the taxes.
Additionally, the workforce will search extra solutions on plans to re-set the financial system and its affect the general programme.
Programme Extension and extra funding from the IMF
Dr. Forson just lately disclosed plans to push for an extension of the programme to hunt further funds to assist stabilize the financial system.
The go to will subsequently supply each authorities and the IMF a possibility to finalize discussions on this proposal.
The IMF has maintained that though it’s opened to talks geared toward reviewing the programme, any settlement that might be reached, should be consistent with the broader focus of the programme.
Ghana’s Programme with the IMF
Since Ghana signed as much as the IMF programme in Could 2023, it has obtained about US$1.9 billion to assist the financial system.
The IMF in a press release after Ghana handed the third assessment, described the programme efficiency as usually passable, with outstanding progress on debt restructuring.
“Financial development within the first half of 2024 exceeded expectations, inflation has continued to say no, and the fiscal and exterior positions have confirmed marked enhancements”, it added.
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