Ato Forson receives IMF praise for economic reform initiatives

Kristalina Georgieva, the  Managing Director of the International Monetary Fund (IMF), has praised Ghana’s Minister for Finance, Dr. Cassiel Ato Forson, and his team for their “strong dedication to the financially supported scheme and measures to restore economic stabilization.”

In the course of a meeting on Saturday, Kristalina Georgieva commended the leadership demonstrated by Dr. Forson, highlighting the notable achievements Ghana has made despite difficult conditions. She reiterated the IMF’s ongoing backing for the nation , saying, “The IMF remains a strong partner of Ghana.”

This high-level endorsement comes after the declaration that Ghana has reached a technical agreement with the IMF on the fourth review of the financially supported scheme.

After formal endorsement by the IMF Executive Board, the agreement will open doors for the allocation of approximately 370 million dollars to Ghana.

The progress is especially impressive given that, before the new government assumed office, various structural milestones and targets under the program had been surpassed.

The breakthrough reflects the determined and strategic measures of the Mahama’s administration to turn around the economy and restore confidence in Ghana’s financial management.

Since becoming president, the government has intensified implementation of reforms, delivering results ahead of schedule and enhancing positivity about Ghana’s economic prospects. A major focus of the administration’s reform agenda has been clearly payment arrears in 2024, which played role to a significant primary deficit instead of the initial modest budget surplus goal.

To resolve this, the government has adopted a number of strategic and effective actions aimed at strengthening spending controls, enhancing budget integrity, and ensuring long-term financial stability.

Also in attendance were the governor of the Bank of Ghana, Dr. Johnson Asiama, Senior Economic Advisor, Seth Tekper and the chairman of the National Development Planning Commission, Dr. Nii Moi Thompson.

In addition to these reforms, the government has already achieved multiple structural milestones that were initially planned for completion at the end of December 2024 and March 2025, highlighting its determination to revive the economy.

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