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, 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.
ALSO READ:
