IMF: We’ll chart a sustainable course to restore macroeconomic stability – Finance Minister

The Finance Minister, Mr Ken Ofori-Atta has said that the Government will chart a sustainable course that will restore and improve macroeconomic stability, energise and expand economic activity, create jobs and strengthen Ghana’s structural resilience to future external shocks after joining the IMF.

The President, Nana Addo Dankwa Akufo Addo requested the Minister of Finance, Ken Ofori-Atta, to apply to the IMF for financial assistance.
An IMF staff team led by Carlo Sdralevich visited Accra from July 6 to 13, 2022, to assess the current economic situation and discuss the broad lines of the government’s Enhanced Domestic Programme that could be supported by an IMF lending arrangement.

The IMF team met with Vice President Dr Mahamudu Bawumia who is the head of Ghana’s Economic Management team, Finance Minister, Ken Ofori-Atta, and Governor of the Bank of Ghana, Dr Ernest Addison.

The team also met with the Parliament’s Finance Committee, civil society organisations, and development partners, including UNICEF and the World Bank to engage on social spending.

Reading the Mid year Budget Statement and Economic Policy on the floor of Parliament on Monday 25th July 2022, Mr Ken Ofori-Atta said Ghana has God who gives abiding grace for this new journey.

He was of the belief that God guided the Akufo-Addo Government to successfully exit an IMF programme in 2019 and will again use this Government to successfully go through this programme.

Meanwhile, he said the government was even more confident of an imminent break-through because it has a track record, a plan, the discipline, the dedication, the competence as well as the compassion for its people and the country.

“We will chart a sustainable course that will restore and improve macroeconomic stability, energise and expand economic activity, create jobs and strengthen Ghana‘s structural resilience to future external shocks,” he added.