The International Monetary Fund (IMF) has advised the government to exercise fiscal discipline and implement economic reforms that can ensure long-term prosperity for Ghanaians.
Managing Director of the Fund, Kristalina Georgieva underscored the need for the government to build upon the progress made thus far under the three-year, three billion-dollar extended credit facility to promote inclusive growth.
“Your growth is better expected, your inflation is lower than expected, the progress in debt restructuring has been faster than expected and now the task is to cement what has been achieved and do it with the unity of this country”.
She made the remarks during a meeting with President Nana Addo Dankwa Akufo-Addo.
Although she admitted Ghana’s economy was strong, she cautioned the government to remain vigilant to maintain the ongoing recovery.
“It is the year to bring confidence in Ghana domestically and internationally at the level it was before. It is possible because we are seeing a world slightly better, so the economic attributes are better, and the critical resource of money will go where confidence in the capacity to perform is highest. So Ghana can be in this place, as it was before. We need to stay the course, Ghana has achieved in a short time of the programme – good indicators”, she added.
President Akufo-Addo on his part noted that Ghana’s decision to seek a balance of payment support from the International Monetary Fund (IMF) has yielded positive results.
The IMF support programme has contributed to Ghana’s economic turnaround, with a recent decline in inflation and currency stability, despite challenging economic circumstances. The decision to seek support in July 2022 has been praised for its positive outcomes, he argued.
“The dire circumstances in which we were at the time that we took that very difficult decision and where we are today is a very clear testimony that our decision to seek your support is a decision that was correct, and we have had some benefits from it”, the President said.
By: Rainbowradioonline.com/Ghana
