The Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama, has reaffirmed Ghana’s steadfast commitment to the International Monetary Fund (IMF)-supported economic program, stressing that the country’s journey toward macroeconomic stability is a gradual, step-by-step process, not an isolated event.
Dr. Johnson’s remarks followed the successful conclusion of the IMF’s fourth review of Ghana’s economic performance under the program. In his comments, the BoG Governor emphasized that the path to achieving lasting economic stability and growth is ongoing, requiring sustained effort and careful implementation of reforms.
“The path to full macroeconomic stability and inclusive growth is a process, not an event,” Dr. Johnson stated, reiterating the BoG’s firm dedication to ensuring that all objectives of the IMF program are met. He underscored that economic progress is a continuous journey, highlighting the importance of consistency in the country’s reform efforts, including measures to restore debt sustainability and foster long-term economic resilience.
The Governor’s comments come as Ghana prepares to unlock a significant $370 million disbursement from the IMF. This funding, subject to final approval by the IMF’s Executive Board, will bring the total IMF financial support disbursed to Ghana under the arrangement since May 2023 to approximately $2.355 billion.
IMF Mission Chief for Ghana, Mr. Stéphane Roudet, confirmed that the staff-level agreement on the fourth review marked a crucial milestone in Ghana’s ongoing economic reforms.
“We are pleased to announce that we have reached a staff-level agreement on the BoG review of Ghana’s economic program,” Roudet stated. “Once the Executive Board completes its review, Ghana will have access to approximately $370 million, bringing the total disbursement to approximately $2.355 billion.”
This upcoming disbursement will play a vital role in Ghana’s economic stabilization efforts, providing crucial financial resources to help the country meet its reform targets.
