The International Monetary Fund (IMF) says Ghana has made progress in strengthening its fiscal position ahead of the general elections on Saturday, December 7.
Looking ahead, the Fund said, staying the course of fiscal policy adjustment-including before and after the upcoming elections-and creating room to enhance social programs is paramount to put public finances on a sustainable path and reduce financing needs, while cushioning the vulnerable from the impact of fiscal adjustment.
The Bretton Woods Institution further states that continued efforts to enhance domestic revenue mobilisation and streamline primary expenditure are key in this respect.
The Fund directed that these should be supported by continued progress in improving tax administration, strengthening expenditure control and management of arrears, implementing an enhanced fiscal responsibility framework, and improving State-Owned Enterprises (SOEs) management. "Promptly and forcefully addressing the challenges in the energy sector is also critical to contain fiscal risks.