President John Dramani Mahama has reaffirmed his government’s commitment to fiscal discipline and responsible economic management as Ghana targets a successful exit from the International Monetary Fund’s (IMF) Extended Credit Facility programme by 2026.
Speaking at the 9th Ghana CEO Summit in Accra, held under the theme “Transforming Business and Governance for a Sustainable Futuristic Economy,” President Mahama emphasized that prudent spending and borrowing will remain central to his administration’s economic strategy.
“Completing the IMF programme with discipline is critical. We will maintain that discipline in government expenditure and borrowing and work diligently to achieve all targets under the Extended Credit Facility,” he stated.
He revealed that Ghana aims to complete the fourth review of the IMF programme by June 2025, a key step toward meeting the final conditions of the multi-year support initiative.
“Following that, we will participate in Article IV consultations and transition into the Policy Support Instrument framework. This signals Ghana’s return to a responsible, non-borrowing relationship with the IMF,” President Mahama added.
The Policy Support Instrument (PSI) is a tool used by the IMF to support countries that do not need financial assistance but seek close policy dialogue and endorsement of their economic programmes.
President Mahama’s remarks come at a crucial moment, as Ghana works to stabilize its macroeconomic environment, restore investor confidence, and implement long-term reforms.
His assurance of continued fiscal restraint is seen as key to ensuring sustainable growth beyond the IMF programme’s completion.
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