Strong and ambitious structural reforms will be implemented – Finance Minister after IMF approves Ghana’s first review

SourceEmma Ankrah

Finance Minister, Ken Ofori-Atta

The Finance Minister, Ken Ofori-Atta has announced that government will implement strong and ambitious structural reforms.

He said the structural reforms would be aimed at supporting Ghana’s physical consolidation and growth agenda.

“Going forward, strong and ambitious structural reforms would be implemented in the areas of tax policy, public financial management, energy and cocoa sectors,” he announced in a press briefing on Friday, January 19.

This announcement comes after the International Monetary Fund (IMF) approved the second tranche of US$600 million for Ghana.

According to Mr Ofori-Atta, the approval of the second tranche marks “a pivotal milestone following the successful conclusion of our domestic debt exchange programme in 2023.”

He mentioned that the international community has credited the impressive success of the DDEP to the sense of responsibility demonstrated by Ghanaians.

The resilience of our institutions in this regard has been recognised by the international community, serving as a robust indication of the restoration of debt sustainability, he added.

He also noted that government is committed to fully implementing the IMF-supported Post COVID-19 Program for Economic Growth (PC-PEG), adding that it has put in place all the measures to ensure the programme does not derail. This, he stated is to enable government to achieve its objectives.

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