Economic crisis: Dealing with Ghana’s challenges cannot be done at a go; it has to be systematic – Finance Minister

The Finance Minister of Finance, Dr. Mohammed Amin Adam has urged Ghanaians to be patient with government as it takes steps to address all the economic challenges facing the country.

Speaking during a joint Ministry of Finance, Bank of Ghana, and International Monetary Fund (IMF) press conference on Monday, July 1, the Finance Minister said addressing the challenges has to be systematic.

He said through that process, Ghanaians will soon see the benefits and developments nationwide.

“We admit that there are still challenges, we cannot bring to amend at a go, it has to be systematic, and patient, I call on the people of Ghana to be patient with us and they will see the benefits and development in the communities across the country,” Dr. Mohammed Amin Adam said.

The Finance Minister continued, “We have come out of the crisis, we are now building on it to bring our economy to the peak when we will have single-digit inflation.”

Meanwhile, the board of the International Monetary Fund has approved the release of the third tranche of the extended credit facility under the programme it has with Ghana.

Following the approval, an amount of $360 million has been disbursed to the country.

Meanwhile, the IMF Mission Chief for Ghana, Mr. Stéphane Roudet has commended government for the progress made since sealing the deal with the Fund.

Speaking at the joint press conference, he said, “The government and authorities embarked on a comprehensive reform programme aimed at restoring economic stability and debt sustainability and laying the foundation for robust and inclusive recovery. The progress Ghana has made is impressive on the fiscal front to bring public financing back on a sustainable track.”