IMF’s Second Review Of The Three-Billion-Dollar Supported PC_PEG Programme..

Dr. Mohammed Amin Adam, Ghana’s Minister for Finance (Left) and officials of IMF in a meeting in Accra, Ghana

On April 2 2024, the International Monetary Fund Mission, led by the Mission Chief, Stephane Roudet, was in Accra for a second review of the three-billion-dollar IMF supported PC_PEG programme. The mission, when fruitful, will prompt one more payment of 360 million bucks.

Welcoming them, Dr. Mohammed Amin Adam, Ghana’s Minister for Finance assured the team of governments’ commitment to the IMF programme, saying

“I am personally committed to achieving the objectives of the PC-PEG programme and my team is ready to work with you to achieve that in another record time.”

He gave an outline of the economy taking note of that the economic indicators were moving in the correct course and that the government will keep on endeavoring to support the gains under the program.

The Minister also assured the team that the government was working with external creditors to reach an agreement quickly to bring the debt restructuring programme to an end.

Dr Amin Adam took the opportunity to express appreciation to the MD of the Fund, Krystalina Georgieva for her visit to Ghana last month.

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Dr Maxwell Opoku-Afari, 1st Deputy Governor speaking on behalf of the Governor of Ghana’s Central Bank also reiterated government’s commitment to stay within targets to sustain the gains made so far.

Mr Stephane Roudet also expressed similar sentiments regarding achieving a successful review that will culminate in a staff level agreement to trigger the release of more funds from the Fund.

This second review is to enable the Fund assess Ghana’s performance on programme objectives, the six Quantitative Performance Criteria, the three Indicative Targets (ITs), one Monetary Policy Consultation Clause (MPCC), and the Structural Benchmarks (SBs) with regards to end December 2023 targets.

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