Govt Pledges Full Commitment to IMF Program, No Plans for Renegotiation – Ato Forson

Finance Minister Dr. Cassiel Ato Forson has reiterated that the government has no plans to renegotiate or extend Ghana’s current agreement with the International Monetary Fund (IMF).

Speaking at a joint press conference with the IMF in Accra on Tuesday, April 15, Dr. Forson emphasized the government’s dedication to fully executing the program designed to restore macroeconomic stability and foster sustainable growth.

He clarified that renegotiating the deal would imply a lack of faith in the program, a stance the government does not share.

“The government is committed to the implementation of the IMF program to meet its objectives,” he assured.

While acknowledging that some structural targets and quantitative benchmarks were missed prior to the current administration’s tenure, Dr. Forson underscored the government’s resolve to achieve the program’s goals.

To reinforce fiscal discipline, he outlined a series of actions, including tightening expenditure controls, curbing arrears, and enhancing fiscal and debt sustainability.

A key initiative to enhance transparency includes an audit of government payables, being conducted by the Auditor-General alongside two international audit firms, with completion expected in eight weeks.

Additionally, Dr. Forson pointed to recent amendments to the Procurement Act and revealed plans to introduce a Public Financial Management (PFM) Commitment Control Compliance League Table to monitor and publish the compliance of government ministries and agencies.