Mid-Year Budget Review: Finance Minister optimistic about achieving 18 targets in first review by IMF in September
Presenting the 2023 Mid-Year Budget Review, Finance Minister, Ken Ofori-Atta, reaffirmed the government’s determination to meet key targets in the $3 billion IMF-supported programme.
The first review of the programme is slated for September this year, and Ghana is actively working towards achieving nine (9) Structural Benchmarks (SBs), six (6) Quantitative Performance Criteria (QPCs), and three (3) Indicative Targets (ITs).
Speaking on the floor of Parliament, the Finance Minister highlighted Government’s implementation strategy, which has been meticulously designed to ensure the effective execution of the IMF programme. Stressing the importance of success in the upcoming review, he called upon the members of Parliament and all citizens to rally together in support of the critical reforms.
“Our only recourse is to be successful at the upcoming First Review of the Programme in September, 2023 and all other subsequent reviews. We are, therefore, respectfully calling on every member of this august House and ‘Fellow Ghanaians’ to support these reforms,” Mr Ofori-Atta stated.
The Finance Minister also underscored the Government’s unwavering commitment to the PC-PEG (Growth Programme), which serves as the backbone of the IMF-approved programme. Aligning Ghana’s growth agenda with the IMF’s framework aims to solidify economic stability and foster sustainable development in the nation.
The upcoming first review marks a crucial milestone for Ghana’s economic trajectory, and the Finance Minister’s call for support emphasizes the collective responsibility of all stakeholders to achieve successful outcomes.
The government’s steadfast dedication to meeting IMF targets reflects its resolve to drive the nation towards a path of enduring prosperity.
Successfully meeting the targets set for the first review of the programme will result in the disbursement of the second $600m tranche by the IMF.
