Ghana’s macroeconomic recovery remains on course as long as the country continues to meet the benchmarks set under its three-year, $3-billion International Monetary Fund (IMF) programme, according to Courage Kwesi Boti, Manager of Macroeconomic Research at GCB Bank plc.
Speaking on Bullet TV’s Morning Target, Mr Boti emphasised that the success of the IMF reviews is a crucial indicator of economic correction, offering confidence to investors and the market.
“For as long as we are passing those reviews – and you see, in these reviews, there are benchmarks to meet – what your reserve accumulation should be by a certain timeline, what growth should look like, what your deficit should look like, your arrears accumulation and all that. There are clear parameters in every review that need to be met, so, as long as we are meeting that, it means that the correction in the macro that we are expecting is happening and that gives comfort to the market and investors that things are going well,” Mr Boti stated in an interview with Nana Kweku Aduah, who co-hosts the show with Seli Acolatse Apaloo.
His comments come in the wake of the latest visit by the IMF team to Ghana as part of the periodic assessments under the programme.
These reviews evaluate the country’s progress in meeting fiscal and structural reform targets, which are essential for economic stability and continued disbursement of IMF funds.
Ghana’s government has expressed confidence in its ability to meet the targets, highlighting improved reserve accumulation, reduced fiscal deficit, and controlled arrears as positive outcomes of the ongoing programme.
However, analysts note that sustaining these gains will require continued adherence to the IMF’s reform measures.
The IMF programme, approved in 2023, is designed to restore macroeconomic stability, support growth, and ensure debt sustainability.
The next review is expected to further assess the country’s progress and determine the subsequent tranche of financial support.
