The International Monetary Fund (IMF) has endorsed the measures announced by Ghana’s Finance Minister, Dr. Cassiel Ato Forson, in the 2025 Mid-Year Budget Review, read on Thursday, July 24, 2025, describing them as fully aligned with the Fund’s support program.
Julie Kozack, Director of Communications at the IMF, made the remarks at a news conference in Washington, D.C., where she emphasized that the measures will fast-track Ghana’s efforts toward macroeconomic stability and achieving the objectives of the IMF-supported program.
“The IMF has welcomed the government’s corrective actions, including a strong 2025 budget and an audit of payables to quantify and address the pre-election fiscal slippages,” Ms. Kozack said.
She added that the government’s fiscal reforms and legal amendments are key steps toward enhancing financial transparency and responsibility.
“The authorities have recently implemented changes to their Public Financial Management and Public Procurement Acts, and this helps improve the overall fiscal responsibility framework in Ghana,” she noted.
Ms. Kozack further stated that “the Mid-Year Budget Review is fully in line with the parameters and objectives of the IMF-supported program.”
She also highlighted progress made under the Extended Credit Facility (ECF), noting that “on July 7, the IMF Executive Board completed the fourth review of Ghana’s ECF arrangement, and following the Board’s approval, Ghana received about US$367 million.”
This latest disbursement brings the total financial support Ghana has received under the program to around US$2.3 billion since its inception in May 2023.
The IMF also noted that the government has adopted a comprehensive strategy to address persistent challenges in the energy sector, a move seen as vital for long-term fiscal sustainability.
Read More @ ATLFMNEWS.COM
