The Switzerland Government has signed an agreement to support Ghana with CHF15 million (Swiss franc), about GHC60 million spanning 2015 to 2017 to fund its budget.
Ghana’s Finance Minister, Mr. Seth Terkper, signed the agreement with the Swiss Ambassador to Ghana, Mr. Gerhard Bruegger, in Accra.
The Swiss government, which has been providing budgetary support to Ghana since 2002, will release CHF7 million (about GH¢26.5 million) to support the 2015 budget, with the rest spread over the next two years.
Mr. Terkper said the government was aware of the concerns that the country’s development partners had raised about macroeconomic stability and that the government considered it equally serious and would not do anything to derail the progress made so far.
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The Ghana-Switzerland agreement comes a few days after the International Monetary Fund (IMF) expressed satisfaction with Ghana’s implementation of a three-year bailout plan.
The Bretton Wood institution, led by Joël Toujas-Bernaté, visited Ghana from October 21–November 5, 2015, to conduct discussions on the second review of the country’s financial and economic programme supported by the IMF’s Extended Credit Facility (ECF).