The Minister of Finance, Dr Mohammed Amin Adam, has reiterated the positive and promising medium-term macroeconomic outlook for Ghana. He emphasized the government’s commitment to implementing comprehensive structural reforms to boost growth and improve revenue mobilization during a joint press conference with the International Monetary Fund (IMF).
Dr Mohammed Amin Adam assured the public that Ghana remains dedicated to meeting key targets under the IMF-supported program, despite the upcoming election year in 2024. He highlighted the importance of control and monitoring mechanisms to ensure compliance with the program’s requirements.
The IMF recently announced a staff-level agreement on the review of the extended credit facility with Ghana, allowing the country access to approximately US$360 million in financing. This achievement was attributed to meeting key performance indicators set by the IMF.
Dr Mohammed Amin Adam expressed optimism about the future disbursement of the third tranche of $360 million under the IMF- ECF program, pending approval by the IMF Executive Board. He emphasized the need for continued progress on debt restructuring with bilateral and commercial creditors to unlock this funding.
Overall, the Finance Minister’s reassurance and the successful agreement with the IMF reflect Ghana’s commitment to maintaining a positive economic outlook and implementing necessary reforms for sustainable growth.
