The Finance Minister says government has made significant progress with its negotiations with the International Monetary Fund (IMF).  

Ken Ofori-Atta said the Fund has assured of its strong support to the country in these difficult times. 

According to him, a preliminary fiscal adjustment path, and debt strategy have been agreed upon. 

Presenting the 2023 budget to Parliament on Thursday, Mr Ofori-Atta said negotiations will be expedited for the benefit of Ghanaians. 

“Mr Speaker, since Government announced its engagement with the International Monetary Fund (IMF or the Fund) for a supported Programme on July 1, 2022, we have made substantial progress. 

“The Fund assured Government of its strong commitment and support in these difficult times.

“Mr Speaker, Government and the IMF have agreed on programme objectives, a preliminary fiscal adjustment path, debt strategy and financing required for the programme to be in line with the Government’s Post-COVID-19 Programme for Economic Growth (PC-PEG). 

“The PC-PEG is Government’s blueprint to restore macroeconomic stability, promote debt sustainability, sustain economic recovery and support structural reforms,” he said. 

The country is in an economic crisis leaving a dire impact on all sectors.

Ghana is currently at the doors of the Fund seeking support amid intensifying hardship, a rising cost of living and a depreciating cedi.

However, the Minister has hinted at an end in sight for Ghanaians as progress has been made with the Bretton Woods Institution.