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“Honestly, the IMF programme won’t solve all Ghana’s problems…At the end of the day, if we all, as citizens, and government including SOEs execute our duties effectively; I believe the IMF conditionality won’t have any effect on us.”
These were the words of the Deputy Minister for Information, Fatimatu Abubakar, reported by pulse.com.gh after the International Monetary Fund (IMF) on Wednesday, May 17, 2023, approved a $3 billion loan for Ghana.
The programme, endorsed by the IMF board is spread over 36 months under the Extended Fund Facility.
It aims at restoring macroeconomic stability and debt sustainability, as well as implementing wide-ranging reforms to build resilience and lay the foundation for stronger and more inclusive growth,
Managing Director Kristalina Georgieva said “Fiscal consolidation is a central element of the programme” as is “preserving financial sector stability”.
Furthermore, monetary and exchange rate policies under the programme will focus on inflation control and rebuilding foreign exchange reserves.
NKONKONSA.com
