Gov't Will Implement Strong Structural Changes - Finance Minister After IMF Approved Second Tranche of US$600 million

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Ghana's Finance Minister, Ken Ofori-Atta, announced during a press conference on Friday, January 19, that the government would implement significant and far-reaching structural changes to support the nation's economic and fiscal consolidation program.

Related To This: Invest IMF Funds Into Economic Sustainability Rather Than Consumption - ISSER Director to Gov't

The energy and cocoa industries, governmental financial management, and tax policy would be the main areas of emphasis for the planned structural changes. Ofori-Atta underscored the government's resolve to carry out these changes in order to promote long-term economic growth.

This declaration comes after the International Monetary Fund (IMF) approved Ghana's second tranche of US$600 million. Ofori-Atta emphasized how important this permission is, indicating a critical turning point after the successful completion of the domestic debt swap scheme in 2023.

Acknowledging the international community's recognition of Ghanaians' responsible approach, he underscored the impressive success of the domestic debt exchange program, which has been credited to the resilience of Ghana's institutions. This recognition serves as a robust indication of the restoration of debt sustainability.

Related To This: IMF Will Surely Approve $600 Million Tranche - Ken Ofori-Atta

Furthermore, Ofori-Atta affirmed the government's unwavering commitment to fully execute the IMF-supported Post COVID-19 Program for Economic Growth (PC-PEG). He assured that all necessary measures have been put in place to ensure the smooth implementation of the program, with the objective of achieving the government's economic goals.

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