IMF lauds gov’t for bringing public financing back on sustainable track

The International Monetary Fund (IMF) has noted that it is impressive how government has been able to bring public financing back on a sustainable track.

Speaking at the joint press conference with the Bank of Ghana and the Ministry of Finance on Monday, July 1, IMF Mission Chief for Ghana, Mr. Stéphane Roudet said the comprehensive reform programme government embarked on has paid off.

“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,” Mr. Stéphane Roudet said.

The IMF Mission Chief for Ghana continued, “The country has surpassed expectations with a robust GDP growth of 4.7% in the first quarter of 2024, showcasing resilience and effective fiscal policies.”

On his part, Ghana’s Finance Minister Dr. Mohammed Amin Adam urged Ghanaians to be patient with government as it takes steps to address all the economic challenges facing the country.

He said through a systematic 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.”