The newly appointed Finance Minister, Dr. Mohammed Amin Adam, has reassured the International Monetary Fund (IMF) that the government will steadfastly adhere to the ongoing program.
This commitment comes as Dr. Amin Adam takes over the role from Ken Ofori-Atta in a recent ministerial reshuffle.
In an interview on the Citi Breakfast Show with Bernard Avle on Thursday, February 15, Dr. Amin Adam emphasized the government’s dedication to following the established path in collaboration with the IMF.
He highlighted the continuation of pro-poor initiatives outlined in the recent budget and pledged to maintain business as usual.
Dr. Amin Adam also expressed his commitment to swiftly implement the proposed tax reliefs and ensure the protection of the economically disadvantaged.
“If you look at the budget that was presented this year, there were a number of pro-poor initiatives, and I do not intend to depart from those pro-poor initiatives. And I will ensure that business follows as usual as it should. We will make sure that we move faster to implement the tax reliefs that were made in the budget and I am going to make sure the poor are insulated.”
“It is important to note that we are under an IMF programme and I want to assure the IMF and the business community that I will ensure that the programme remains on track. I will work to ensure that the programme does not suffer.”
Acknowledging Ghana’s participation in the IMF program, Dr. Amin Adam assured both the IMF and the business community that he would work diligently to keep the program on track and prevent any deviations.
The ongoing program represents a strategic partnership focused on addressing economic challenges and promoting fiscal responsibility within Ghana.
The IMF program involves a comprehensive set of policies and reforms aimed at enhancing economic stability, fostering growth, and creating a conducive environment for sustainable development. Ghana’s engagement with the IMF has been motivated by various economic factors, including fiscal deficits, external imbalances, and the imperative for structural reforms. Historically, the country has sought IMF assistance to tackle fiscal challenges, implement economic reforms, and strengthen macroeconomic fundamentals. The program typically encompasses measures to curb inflation, reduce budget deficits, and bolster overall economic resilience.