Government committed to strong reform programme for macroeconomic stability – Finance Minister

Minister of Finance Dr Mohammed Amin Adam announced government’s dedication to implementing its robust reform program to achieve macroeconomic stability.

In a post on X, formerly Twitter, he expressed gratitude to President Nana Addo Dankwa Akufo-Addo for his strong leadership and to the IMF for its support to Ghana.

“Ghana has today secured IMF Board Approval for the 2nd review of the IMF-supported PC-PEG. This will trigger the release of the third tranche of $360 million under the ECF.

“We remain committed to implementing our strong reform programme, towards ensuring macroeconomic stability.”

“I thank the President for his strong leadership; the IMF for their commitment to Ghana; our bilateral & development partners for their staunch support; & all the hardworking staff of the @MoF_Ghana for their tireless efforts to entrench Ghana’s economic stability #GhanaRising,” he stated.

Read also: IMF commends Ghana’s strong economic reforms as $360m aid boost arrives

This comes after the Executive Board of the International Monetary Fund (IMF) wrapped up its second review of Ghana’s US$3 billion, 36-month Extended Credit Facility (ECF) Arrangement.

Approved back in May 2023, this review was a critical checkpoint for the country.

The completion of this review meant an immediate disbursement of roughly $360 million, bringing Ghana’s total disbursements under the arrangement to about $1.6 billion.

In a meeting, Deputy Managing Director Kenji Okamura announced, “Ghana’s performance under its ECF-supported reform program has been generally strong.

The authorities’ strategy aimed at restoring macroeconomic stability and reducing debt vulnerabilities is paying off, with clear signs of stabilisation emerging.”

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