The Managing Director of the Worldwide Financial Fund (IMF), Kristalina Georgieva, has counseled Ghana’s Minister for Finance, Dr. Cassiel Ato Forson, and his group for his or her “robust dedication to the Fund-supported programme and reforms aimed toward restoring macroeconomic stability.”
Throughout a gathering on Saturday, April 26, 2024, Madam Georgieva praised the management proven by Dr. Forson, noting the numerous progress Ghana has made beneath difficult circumstances.
She reaffirmed the IMF’s continued assist for the nation, stating, “The IMF stays a robust accomplice of Ghana.”
This high-level endorsement follows the announcement that Ghana has reached a staff-level settlement with the IMF on the fourth overview of the Fund-supported program.
As soon as formally authorised by the IMF Government Board, the settlement will pave the way in which for the disbursement of roughly US$370 million to Ghana.
The achievement is especially outstanding provided that, earlier than the brand new authorities assumed workplace, a number of structural benchmarks and quantitative targets beneath this system had been breached.
The breakthrough displays the aggressive and targeted efforts of President Mahama’s administration to reverse the financial state of affairs and restore confidence in Ghana’s monetary administration.
Since taking workplace, the federal government has accelerated the implementation of structural reforms, delivering outcomes forward of schedule and bolstering optimism about Ghana’s financial prospects.
A serious focus of the administration’s reform agenda has been the decision of the massive accumulation of payables in 2024, which had contributed to a major major deficit as a substitute of the modest surplus initially focused.
To handle this, the federal government has launched a spread of daring and pragmatic measures aimed toward strengthening spending controls, restoring finances credibility, and guaranteeing fiscal and debt sustainability.
Along with these reforms, the federal government has already accomplished numerous structural benchmarks that had been initially scheduled for completion on the finish of December 2024 and March 2025, underlining its robust dedication to financial restoration.
In attendance on the assembly had been Governor of the Financial institution of Ghana, Dr. Johnson Asiama; Senior Financial Advisor to President Mahama, Seth Terkper and the Chairman of the Nationwide Improvement Planning Fee, Dr. Nii Moi Thompson.
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