As Ghana gears up for the third review of its International Monetary Fund (IMF) programme, the government is confident of its economic progress.
The review, scheduled for September 24 to October 4, will assess the country’s performance against agreed-upon targets.
This comes after a successful second review in June, which saw the IMF Executive Directors endorse Ghana’s programme.
The government has made significant strides in implementing economic reforms, including reducing inflation and improving fiscal discipline.
However, the journey to this point has not been without challenges. Ghana’s economy has faced headwinds, including a depreciating currency and high debt levels.
The IMF programme has provided a vital lifeline, with the government receiving $1.5 billion in disbursements so far.
The upcoming review will focus on six Quantitative Performance Criteria, four Indicative Targets, and several Structural Benchmarks.
The government is optimistic about meeting these targets, with preliminary data indicating a strong performance.
A successful review will unlock a further $360 million in funding, bringing the total disbursements to $1.92 billion.
This will provide a much-needed boost to Ghana’s economy, enabling the government to implement its development agenda.
-BY Daniel Bampoe