The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has commended Ghana’s Minister for Finance, Dr. Cassiel Ato Forson, and his team for their “strong commitment to the Fund-supported program and reforms aimed at restoring macroeconomic stability.”
During a meeting on Saturday, April 26, the IMF Boss praised the leadership demonstrated by Dr. Forson, highlighting the noteworthy progress Ghana has made despite facing challenging economic circumstances. She reaffirmed the IMF’s ongoing partnership with Ghana, stating:
“The IMF remains a strong partner of Ghana.”
This high-level endorsement comes shortly after Ghana reached a staff-level agreement with the IMF on the fourth review of the Fund-supported program. Once formally approved by the IMF Executive Board, the agreement will unlock the disbursement of approximately $370 million to support Ghana’s economic recovery efforts.
The achievement is particularly significant given that, prior to the new government taking office, several structural benchmarks and quantitative targets under the program were breached.
The breakthrough reflects the focused and aggressive reform agenda led by the Mahama administration, which has moved swiftly to reverse Ghana’s economic challenges and restore both domestic and international confidence in its fiscal management.
Since taking office, the government has accelerated the implementation of structural reforms, delivering results ahead of schedule and bolstering optimism about Ghana’s economic prospects.
A critical focus of the reform agenda has been addressing the large accumulation of payables from 2024, which had led to a significant primary deficit instead of the targeted surplus.
To address this, the government has introduced a range of bold and pragmatic measures aimed at strengthening spending controls, restoring budget credibility, and ensuring fiscal and debt sustainability.
Additionally, the government has already completed several structural benchmarks originally slated for completion by December 2024 and March 2025, demonstrating its unwavering commitment to economic recovery and reform.
Also present at the meeting with Ms. Georgieva were: Dr. Johnson Asiama, Governor of the Bank of Ghana ; Seth Terkper, Presidential Advisor on Economy ; Dr. Nii Moi Thompson, Chairman of the National Development Planning Commission (NDPC)
Their presence underscored Ghana’s unified and strategic approach to deepening international partnerships and driving sustainable economic transformation.
