The Ghanaian government has affirmed its commitment to implementing the current International Monetary Fund (IMF) programme without renegotiation or extension. Finance Minister Dr. Cassiel Ato Forson emphasized the government’s dedication to restoring macroeconomic stability and driving sustainable growth during a joint press conference with the IMF in Accra on April 15.
Dr. Forson acknowledged that previous administrations missed some structural benchmarks and quantitative targets but assured that the current government is committed to meeting the programme’s objectives. To achieve this, the government has implemented several measures, including;
- Audit of Payables: Commissioning the Auditor-General, along with two international audit firms, to audit payables and commitments within eight weeks to validate legitimacy and values and provide corrective measures.
- Procurement Act Amendment: Passing an amendment to the Procurement Act requiring the Minister for Finance’s commitment authorization for all central government procurements.
- Public Financial Management Compliance: Launching a Public Financial Management Commitment Control Compliance League Table to track Ministries, Departments, and Agencies’ compliance levels under the PFM Act.
The IMF staff team, led by Mr. Stéphane Roudet, Mission Chief for Ghana, reached a staff-level agreement on the fourth review of Ghana’s economic programme under the Extended Credit Facility arrangement. Upon completion of the Executive Board review, Ghana is expected to access approximately $370 million in financing.
Sankofaonline
