The Bank of Ghana has said it remains committed to implementing a successful IMF-supported programme, particularly in an election without derailment.
The Governor, Dr. Ernest Addison admitted that although Ghana has not been able to successfully implement an IMF-ECF programme in an election year, the government and the central bank remain committed to changing that narrative.
Speaking at a joint IMF, finance ministry and BoG presser held on April 13, 2024, Dr. Addison said, “We recognize the importance of continued macroeconomic stability and an early return to the capital markets, and we will remain committed to ensure that programme implementation stays firm.”
Throughout Ghana’s history, election years have often been associated with high expenditure as political parties aim to make grounds towards winning an election. However, high election expenditure has impacted significantly the economy resulting in a slump, especially after the 2020 general election.
Meanwhile, Minister of Finance, Dr. Amin Adam has assured that despite it being an election year, the government will adhere to the International Monetary Fund’s Post-COVID-19 Programme for Economic Growth (PC-PEG) and the World Bank-supported Development Policy Operations.
Source: www.ghanaweb.com
