The International Monetary Fund indicated that it is crucial for the Ghana government to continue to implement the Economic Credit Facility (ECF) programme as envisaged to ensure sustainable growth and poverty reductions.
In a press conference on September 12, 2024, the Fund led by Director of Communications Department, Julie Kozack, however applauded the government and the Bank of Ghana for so far demonstrating a strong commitment to the programme at all levels.
It welcomed the Finance Minister, Dr. Mohammed Amin Adams signal of the government's continued commitment to policies under the programme.
“Steadfast policy and reform implementation are vital to durably restore macroeconomic stability and debt sustainability in Ghana. It will be crucial for the government to continue to implement the programme as envisaged to ensure sustainable growth and poverty reductions. The authorities have so far demonstrated a strong commitment to the programme at all levels. And we welcome Minister Adams signaling of the government's continued commitment to policies under the programme”.
Ghana has so far received $1.6 billion from a total of $3 billion under the 3-year programme.
The country last access $360 million tranche in July 2024.
The Fund also stated that a comprehensive reform programme and strong policy efforts by the government and the Bank of Ghana are yielding positive results.
For example, it said growth in 2023 was higher than initially envisaged, whilst inflation is declining, and international reserves have increased.
Latest Stories
-
Two girls and one employee killed after explosion at Nebraska biofuels plant
2 minutes -
Analysis: Ghana’s gold exports surge in 2025, surpasses total imports for first time in a decade
11 minutes -
GH¢2bn was on the table, why collapse uniBank? – Prof Lord Mensah questions closure
13 minutes -
Mahama reiterates gov’t’s commitment to expand Damongo Water Supply system
20 minutes -
Bank of Ghana tightens rules on remittances amid compliance failures
26 minutes -
Gov’t releases $1m to avert Memphis University scholarship crisis
34 minutes -
President Mahama rallies African leaders to empower reparations bodies
43 minutes -
Parliament endorses use of oil and mineral revenues for ‘Big Push’ projects
56 minutes -
Prioritise funding to security agencies- Ntim Fordjour urges gov’t as he critiques Mid-Year Budget Review
57 minutes -
NPP leadership, Minority Caucus sign Daddy Lumba’s book of condolence
1 hour -
Defence Minister hails Ghana–China military ties at PLA anniversary event
1 hour -
Absa Black Star Marathon draws global participation and presidential endorsement
1 hour -
Gender Minister calls for review of Human Trafficking Act
1 hour -
Yagbonwura pays a historic visit to President Mahama
1 hour -
We’ve not apologised for GH¢138.9bn public debt overstatement – Audit Service
1 hour