Ghana News & Trends

IMF deal performance indicators contributed to completion of 2nd review- Amin Adam

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Minister of Finance, Dr Mohammed Amin Adam, has shared the key performance indicators that led to the successful completion of the Second Review by the International Monetary Fund (IMF).

The IMF recently announced a staff-level agreement on the second review of the extended credit facility with Ghana, which will provide the country access to approximately US$360 million in financing once approved by IMF Management and formally completed by the IMF Executive Board.

During a joint press conference with the IMF on Saturday, April 13, the Minister of Finance provided an update on the outcome of the 2nd Review of the IMF supported Post Covid-19 for Economic Growth (PC-PEG). Dr Amin Adam highlighted that the Second Review was based on key performance indicators, including six Quantitative Performance Criteria, three Indicative Targets, and one Structural Benchmark due at the end of December 2023, with four additional Structural Benchmarks due by the end of March 2024.

While acknowledging the successes achieved in the economy, Dr Amin Adam also emphasized the need for more attention on the energy and cocoa sectors. He assured that control mechanisms have been established to ensure that key targets under the IMF-supported programs are met, particularly in an election year like 2024.

The Minister extended Ghana’s gratitude to its bilateral partners, including the Bank of Ghana, IMF, World Bank, AfDB, among others, for their support and commitment in transforming the country.

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