IMF deal not end to Ghana’s woes; real work just begun – Ofori-Atta

Ofori-Atta, while giving an update on Ghana’s economy, indicated that the IMF-backed program is rather a precursor to the implementation of a programme that will bring about the needed economic reforms.

Let me state clearly that securing an IMF programme is not an end to our current challenges though it has significantly paved the way for the implementation of an ambitious and well-thought-out programme of reform for our economy and country.”

He also gave a hint on how the government intends to achieve the needed economic reforms, which include revenue maximization, energy sector reforms, and others.

“In fact, the real work of adjustment, realignment, and the path to steady economic growth has just begun

Let us brace ourselves for the needed reform, especially in expenditure control, non-arrears accumulation, revenue growth, ECG revenue collection, and energy sector reforms in order to rebuild the walls of the republic with urgency.”

“That said, our reform programme, the Post Covid-19 for Economic Growth, now supported by a three-year extended credit facility with the IMF is built on clear targets and strong policy and structural measures

Over the medium term, the economic growth-backed IMF programme seeks to promote a credible fiscal consolidation programme anchored by strong domestic revenue mobilisation and high spending efficiency,” the Finance Minister added.