Home » Ghana’s Finance Minister-Designate Pledges Commitment to IMF Programme

Ghana’s Finance Minister-Designate Pledges Commitment to IMF Programme

Dr. Mohammed Amin Adam Pledges to Uphold Fiscal Discipline

by Ikeoluwa Juliana Ogungbangbe
Ghana IMF programme

Ghana’s Finance Minister-designate, Dr. Mohammed Amin Adam, has pledged unwavering adherence to the nation’s ongoing programme with the International Monetary Fund (IMF), ensuring no deviation from the established fiscal path. This declaration comes amidst a major governmental reshuffle that saw Dr. Amin Adam poised to take over the finance ministry, signifying a period of potential transition and continuity in Ghana’s economic policies.

Dr. Amin Adam’s assurance of steadfastness to the IMF programme highlights a critical juncture for Ghana, as it seeks to navigate through economic challenges while fostering fiscal responsibility and growth. In an interview with Citi FM, Dr. Adam emphasized the government’s dedication to pro-poor initiatives and the implementation of tax reliefs outlined in this year’s budget. “We will make sure that we move faster to implement the tax reliefs that were made in the budget and I am going to make sure the poor are insulated,” Dr. Adam stated, underlining a commitment to safeguarding the most vulnerable segments of the population.

The finance minister-designate’s remarks stressed the importance of maintaining the trajectory set by the IMF programme, a strategic partnership designed to address economic vulnerabilities and enhance fiscal discipline in Ghana. “It is important to note that we are under an IMF programme and I want to assure the IMF and the business community that I will ensure that the programme remains on track. I will work to ensure that the programme does not suffer,” Dr. Adam added, signaling a robust intention to keep Ghana’s economic reforms and initiatives aligned with international standards and expectations.

This steadfast commitment comes in the wake of President Akufo-Addo’s decision to undertake a substantial reshuffle within the government, relieving 13 Ministers and 10 deputies of their duties with immediate effect. The shake-up affected key positions across various sectors, including Finance Minister Ken Ofori Atta, Interior Minister Ambrose Dery, and Health Minister Kwaku Agyemang Manu, among others. The reshuffle aims to inject new vigor into the administration’s efforts to tackle pressing national issues, including economic revitalization, healthcare improvement, and infrastructural development.

Dr. Amin Adam’s appointment and his subsequent statements reflect a broader governmental strategy to ensure economic stability, promote inclusive growth, and maintain fiscal discipline through adherence to international agreements and programmes. The focus on pro-poor initiatives and tax reliefs as outlined in the current budget demonstrates a deliberate effort to address the needs of the less fortunate while navigating global economic standards and partnerships.

As Ghana continues to work closely with the IMF, the role of the Finance Minister becomes increasingly pivotal in steering the country towards sustainable economic health and prosperity. Dr. Amin Adam’s assurances to both the IMF and the Ghanaian business community highlight the government’s recognition of the critical importance of international cooperation, fiscal responsibility, and targeted social support in achieving these goals.

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