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Ghana commits to IMF Program for election year prudence

The Finance minister emphasized government’s  resolve not to quit its arrangement with the IMF, neither will it compromise all targets set with the IMF under the three-year bailout program.

Finance Minister, Seth Terkper
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"We remain optimistic about this three-year programme and will ensure that all programme reviews are successfully completed through to 2017, given the enormous benefits to the economy," Seth Terkper told reporters in Accra.

Ghana signed a three-year bailout program with the IMF to return the country to economic stability through prudent spending and revenue generation.

This was after the country’s expenditure hit the roof, with an alarmingly ballooned wage bill and infrastructure on social interventions and subsidies.

Under the deal,  Ghana is expected to receive up to US$940 million from the Fund as balance of payments support. It has so far received US$228 million in two tranches.

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