IMF acknowledges BoG’s end to government financing

By Francis Ntow Accra, July 29, GNA – The International Monetary Fund (IMF) has acknowledged corrective measures by the Bank of Ghana (BoG) after a temporary breach of lending limits to government.

While describing Ghana’s performance under the ECF programme as broadly satisfactory, the IMF identified areas requiring sustained policy attention under the new Policy Coordination Instrument (PCI) to consolidate macroeconomic stability and support inclusive, private sector-led growth.

The IMF welcomed the BoG’s cautious monetary policy easing as inflation returned to the target range but stressed that maintaining policy credibility would require safeguarding the Central Bank’s independence and permanently ending quasi-fiscal activities.