IMF Mission Chief To Ghana Says The Worst May Be Over For The Country

IMF Mission Chief To Ghana Says The Worst May Be Over For The Country

  • The IMF Mission Chief for Ghana, Stéphane Roudet, is optimistic the worst is over for Ghana's economy
  • According to him, the country has overperformed and over-delivered on all assurances it made to the Fund
  • He said should the government continue in that trajectory, the economy would bounce back in no time

The International Monetary Fund (IMF) Mission Chief for Ghana, Stéphane Roudet, says Ghana’s economy is now set for a full recovery.

Speaking to JoyNews at the ongoing IMF/World Bank Spring Meetings in Washington, D.C., he stated that the pace of recovery is, however, fully hinged on the government’s ability to continue implementing the programme as it has for the past year.

IMF Mission Chief To Ghana Says The Worst May Be Over For The Country
The IMF says Ghana has overperformed on all indicators.
Source: Getty Images

Otherwise, he noted, the country’s economy will hit more snags. He explained that if the government fails to heed the IMF programme, it will erode any gains in the country’s pursuit of achieving economic stability in the shortest possible time.

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He was, however, optimistic that Ghana would scale through. According to Roudet, Ghana was overperforming under the IMF programme and had over-delivered on its assurances to the IMF.

The Mission Chief to Ghana added that, currently, the IMF is considering reviewing its growth forecast for Ghana’s economy due to the government's excellent performance under the IMF programme.

He noted that the government had managed to end the previous year with a better inflation rate than the IMF had envisaged. Also, revenue levels had been raised significantly, partly due to support from the Bank of Ghana.

He said the country’s external position was also doing very well, and its fiscal position was adjusting in line with the programme’s objectives being achieved.

“Everything is moving in the right direction, and this is something that was not considered at the beginning of the IMF programme,” he said.

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He urged the Ghanaian government to maintain the same level of commitment and seriousness with which it had scaled the first year of the programme to continue implementing the remaining legs of the programme and ensure its successful completion.

Finance Minister woos investors

Earlier, reported that the Finance Minister, Dr Mohammed Amin Adam, has assured investors and Ghanaians that the country's economy is about to achieve stability.

He said the country's economic progress and its strong recovery trajectory have contributed to this feat.

He also credited the resilience and hard work of Ghanaians for the economic turnaround following a few tumultuous years.

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