Economy

IMF negotiations: Ofori-Atta expresses satisfaction over progress made so far

Finance Minister, Ken Ofori-Atta, has expressed satisfaction with progress made so far with regards to negotiation with the International Monetary Fund for an economic programme.

According to him, the government is committed to working tirelessly to create a stable and resilient macroeconomic environment, ensure debt sustainability and maintain social cohesion.

This is coming after the IMF Mission Team led by Stéphane Roudet completed its work in assessing the state of the Ghanaian economy.

 “This has been a very productive mission and I thank the IMF Team and all stakeholders for their commitment over what has been a marathon fortnight. The Government of Ghana is deeply encouraged by the progress made so far.”

“We look forward to continuing our engagement and remain committed to working tirelessly to create a stable and resilient macroeconomic environment, ensure debt sustainability and maintain social cohesion.  Ghana is at a pivotal moment in its history and we are grateful for the IMF’s support, and indeed the support of all Ghanaians, as we work together to bolster Ghana’s build back effort”, he stressed.

He further said the government of Ghana remains steadfast in its resolve to fast-track negotiations with the IMF, towards achieving a historic agreement that will help strengthen post-Covid economic growth.

IMF reaffirm commitment to support Ghana

The IMF Team reaffirmed its commitment to support Ghana in these challenging times, consistent with the Fund’s policies.

This was the statement made by the Mission Team to Ghana that concluded its discussions with the Ghanaian authorities and other stakeholders on an economic programme for the country.

The team said it had constructive discussions on policies aimed at restoring macroeconomic stability and laying the foundation for stronger and more inclusive growth.

Key areas of focus included ensuring public finance sustainability, while protecting the vulnerable, bolstering the credibility of monetary and exchange rate policies to reduce inflation and rebuild external buffers, preserving financial sector stability, and steps to encourage private investment and growth.

“We had constructive discussions on policies aimed at restoring macroeconomic stability and laying the foundation for stronger and more inclusive growth. Key areas of focus included ensuring public finance sustainability while protecting the vulnerable, bolstering the credibility of monetary and exchange rate policies to reduce inflation and rebuild external buffers, preserving financial sector stability, and steps to encourage private investment and growth, including by improving governance, transparency, and public sector efficiency”.

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