The newest report by the Worldwide Financial Fund (IMF) on Ghana reveals that the brand new John Mahama administration acknowledges the earlier Akufo-Addo authorities’s important position in stabilising the financial system and laying the groundwork to handle long-standing vulnerabilities.
In line with the IMF, the brand new authorities has expressed robust assist for reforms below the continued IMF-supported programme. The Fund said that “the authorities [Mahama government] see the latter [Akufo-Addo government] as having performed a key position in stabilising the financial system and in offering a reputable anchor to handle long-standing vulnerabilities and buttress confidence.”
This revelation comes simply days after a heated alternate in Parliament between Majority and Minority Members of Parliament over Ghana’s current financial positive aspects, together with declining inflation and a strengthening cedi.
The opposition Nationwide Democratic Congress (NDC) credit Ghana’s current macroeconomic positive aspects to legacy insurance policies initiated below former President John Mahama. NDC MP Eric Afful pointed to falling inflation, dropping from 21.2% in April to 18.3% in Could 2025, alongside a stronger cedi and improved fiscal indicators as proof of this legacy. He attributed the progress to tight financial coverage, fiscal consolidation, and improved market confidence. Nevertheless, NPP MP Kojo Oppong Nkrumah challenged these claims, arguing the cedi’s rebound is basically because of short-term interventions, together with a 1.4 billion greenback injection from reserves, which he says don’t replicate long-term financial power.
Different lawmakers echoed issues concerning the sustainability of the positive aspects. Vitality Minister John Jinapor cautioned that whereas inflation has declined, costs are nonetheless rising, a case of disinflation, not deflation. Dr. Kabiru Mohammed warned that the cedi’s appreciation, pushed by central financial institution interventions, creates an phantasm of financial power and contradicts market ideas. He additionally disputed the improved debt-to-GDP ratio, attributing it extra to debt restructuring than precise progress. He pressured that the present administration is reaping the advantages of reforms it didn’t provoke.
DISCLAIMER: The Views, Feedback, Opinions, Contributions and Statements made by Readers and Contributors on this platform don’t essentially symbolize the views or coverage of Multimedia Group Restricted.
DISCLAIMER: The Views, Feedback, Opinions, Contributions and Statements made by Readers and Contributors on this platform don’t essentially symbolize the views or coverage of Multimedia Group Restricted.
Source link
