Ghana is gearing up for a crucial visit from the International Monetary Fund (IMF) in February, as the country strives to align its 2025 budget with the ongoing $3 billion loan-supported program. The week-long visit, scheduled from February 10 to 14, is part of periodic discussions on implementing Ghana’s three-year Extended Credit Facility (ECF) with the IMF.
Finance Minister Dr. Casiel Auto Forson announced the upcoming visit during a working tour of the Ghana Revenue Authority (GRA) and the Controller and Accountant-Generals Department (CAGD). He directed the GRA to develop projections for 2025, which will guide the government in identifying areas that require adjustments to meet revenue targets.
Dr. Forson also challenged the CAGD to ensure thorough scrutiny of expenditure, in line with the Public Financial Management Act, 2016 (Act 921). This call to action comes as Ghana’s debt reaches GHS742 billion cedis, with 51.7% external debt and 43.3% domestic debt.
The IMF program aims to promote debt sustainability, and the visit is expected to help Ghana stay on track. Director-General of CAGD, Mr. Kwasi Adjei, pledged to work towards transforming the country’s financial systems, increasing public confidence, and subjecting expenditure to critical control.
As Ghana prepares for the IMF visit, the country is focused on getting its finances in order and ensuring a sustainable economic future.
Ruth Abla ADJORLOLO
