Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has commended Ghana’s Minister for Finance, Dr. Cassiel Ato Forson, and his team for demonstrating strong leadership and commitment to the Fund-supported economic reform program aimed at restoring macroeconomic stability.
Speaking during a high-level meeting on Saturday, Georgieva praised Ghana’s progress under challenging circumstances and reaffirmed the IMF’s continued partnership with the country. “The IMF remains a strong partner of Ghana,” she stated, highlighting the significant strides made since the new administration took office.
This endorsement comes as Ghana successfully reached a staff-level agreement with the IMF on the fourth review of its support program. Once approved by the IMF Executive Board, the agreement will unlock the disbursement of approximately 370 million dollars to Ghana, providing crucial support for ongoing reforms.
The achievement is particularly noteworthy given that, prior to the Mahama administration’s assumption of office, several structural benchmarks and fiscal targets under the program had been missed. The breakthrough underscores the new government’s aggressive and focused efforts to stabilize the economy and rebuild investor confidence.
Since assuming office, the administration has accelerated the implementation of structural reforms, delivering key milestones ahead of schedule. A major focus has been addressing the large accumulation of arrears in 2024, which previously derailed fiscal targets. The government has introduced decisive measures to strengthen spending controls, restore budget credibility, and reinforce fiscal and debt sustainability.
Notably, several structural benchmarks originally scheduled for completion by December 2024 and March 2025 have already been met, signaling a strong commitment to deep and lasting economic recovery.
The meeting was also attended by the Governor of the Bank of Ghana, Dr. Johnson Asiama, Senior Economic Advisor Mr. Seth Terkper, and Chairman of the National Development Planning Commission, Dr. Nii Moi Thompson, who reinforced Ghana’s collective resolve to sustain the momentum of reform and economic transformation.
