The International Monetary Fund (IMF) has said that it remains a strong partner of Ghana.
The Managing Director of the Fund, Kristalina Georgieva said this after having a meeting with Ghana’s Minister of Finance, Cassiel Ato Forson, and the Governor of Bank of Ghana, Johnson Asiama, at the IMF meetings.
She commended Dr Ato Forson and Dr Asiama’s “strong commitment” to the Fund-supported program and reforms aimed at restoring macroeconomic stability.
“The IMF remains a strong partner of Ghana,” the Fund wrote on its Facebook page after the meeting.
This high-level endorsement follows the announcement that Ghana has reached a staff-level agreement with the IMF on the fourth review of the Fund-supported program.
Once formally approved by the IMF Executive Board, the agreement will pave the way for the disbursement of approximately 370 million dollars to Ghana.
The achievement is particularly remarkable given that, before the new government assumed office, several structural benchmarks and quantitative targets under the program had been breached.
The breakthrough reflects the aggressive and focused efforts of the Mahama administration to reverse the economic situation and restore confidence in Ghana’s financial management.
Since taking office, the government has accelerated the implementation of structural reforms, delivering results ahead of schedule and bolstering optimism about Ghana’s economic prospects.
A major focus of the administration’s reform agenda has been the resolution of the large accumulation of payables in 2024, which had contributed to a significant primary deficit instead of the modest surplus originally targeted.
To address this, the government has introduced a range of bold and pragmatic measures aimed at strengthening spending controls, restoring budget credibility, and ensuring fiscal and debt sustainability.
In addition to these reforms, the government has already completed a number of structural benchmarks that were originally scheduled for completion at the end of December 2024 and March 2025, underlining its strong commitment to economic recovery.
Also in attendance were governor of the Bank of Ghana Dr. Johnson Asiama, Senior Economic Advisor, Seth Tekper and chairman of the National Development Planning Commission Dr. Nii Moi Thompson.
