The International Monetary Fund (IMF) has expressed concerns about potential risks posed by Ghana‘s upcoming general elections in December 2024, which could impact the gains achieved under its program with the country.
The IMF emphasized the importance of maintaining progress in domestic revenue mobilization and tightening expenditure controls to prevent any policy setbacks ahead of the elections.
Despite these concerns, the IMF noted Ghana’s overall strong performance under the program, meeting quantitative targets and implementing structural reforms aimed at enhancing economic resilience and improving public finances.
The IMF also praised Ghana for measures taken to stabilize inflation and bolster foreign reserves.
“These efforts should be supported by continued progress in improving tax administration, strengthening expenditure control and management of arrears, enhancing fiscal rules and institutions”, the IMF advised.