The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has commended Ghana’s Finance Minister, Dr. Cassiel Ato Forson, and his team for their strong commitment to the Fund-supported programme and reforms aimed at restoring macroeconomic stability. Apexnewsgh reports
During a meeting on Saturday, Georgieva praised Dr. Forson’s leadership, highlighting the significant strides Ghana has made under challenging circumstances.
Georgieva reaffirmed the IMF’s ongoing support, stating, “The IMF remains a strong partner of Ghana.” This statement comes after Ghana reached a staff-level agreement with the IMF on the fourth review of its Fund-supported programme. Once formally approved by the IMF Executive Board, the agreement will enable the disbursement of approximately $370 million to Ghana.
The achievement marks a significant milestone for the administration, which inherited an economy that had breached several structural benchmarks and quantitative targets under the original programme. Since assuming office, the administration has implemented structural reforms with impressive urgency, delivering results ahead of schedule. The government has addressed key challenges, including a large backlog of unpaid commitments in 2024, which had caused a major primary deficit. In response, the administration introduced bold measures to restore fiscal discipline, strengthen expenditure controls, and rebuild budget credibility.
The government has demonstrated a strong commitment to economic recovery, completing several structural reforms ahead of schedule. These reforms aim to ensure fiscal and debt sustainability, stabilize the macroeconomic environment, and promote economic growth.
Dr. Forson was joined at the meeting by key officials, including the Governor of the Bank of Ghana, Dr. Johnson Asiama, Senior Economic Advisor Seth Terkper, and the Chairman of the National Development Planning Commission, Dr. Nii Moi Thompson.
Source: Apexnewsgh.com
