Ghana Poised for Economic Growth Beyond IMF Support – Deputy Finance Minister

Deputy Finance Minister Thomas Ampem Nyarko has reaffirmed the government’s determination to guide Ghana’s economy toward sustainable growth without further reliance on the International Monetary Fund (IMF). Speaking to Joy FM, he highlighted the government’s strict adherence to fiscal discipline and the strength of President Mahama’s recently unveiled eight-pillar economic framework, which he described as flexible and inclusive of other national priorities.

Mr. Nyarko responded to public concern regarding the absence of an explicit anti-corruption pillar in President Mahama’s strategy. He assured Ghanaians that the framework is not static and can be expanded to include vital issues such as the fight against corruption. He emphasized that the president’s record and past commitments already reflect a strong anti-corruption stance.

He further clarified that the focus on Public Financial Management (PFM) within the framework is, in itself, an effective approach to combating corruption. According to him, PFM systems are designed to ensure accountability and transparency, indirectly addressing corruption concerns even if not explicitly stated.

Addressing the IMF programme, the Deputy Minister recalled the doubts that surrounded the government’s ability to meet key economic targets upon taking office. With challenges such as missed inflation and primary balance targets, there was initial skepticism. However, he noted that the government has since demonstrated unwavering commitment and progress in executing the IMF-backed reforms.

In conclusion, Mr. Nyarko expressed confidence that Ghana will continue on a path of economic recovery and resilience, even after the conclusion of the IMF programme. He stressed that the administration remains responsive to public concerns and is committed to evolving its policies to reflect national needs and aspirations.

Source: Citi newsroom