The Finance Minister, Dr. Cassiel Ato Forson says Ghana does not expect to return to the (IMF) for another financial bailout in the foreseeable future.
Dr. Ato Forson revealed that, Ghana has moved beyond relying on emergency financial assistance and is now engaging the IMF as a policy and reform partner.
Addressing Parliament on Thursday, May 28, Dr. Ato Forson said President believes the country should not require another IMF bailout after what would become Ghana’s 17th programme with the Fund.
“It is my hope that this will be the very last time we ever go for an IMF bailout programme,” Dr. Forson quoted the President as saying.
“I repeat, no further IMF financial bailout is currently required in the foreseeable future,” he added.
The Finance Minister disclosed that Ghana has successfully completed the final review of its current IMF-supported programme, pending approval by the IMF Executive Board.
He explained that the country will now transition from the Extended Credit Facility (ECF) programme to a Policy Coordination Instrument (PCI), which focuses on reforms, monitoring and policy guidance without direct financial support.
He emphasized the new arrangement demonstrates that Ghana no longer requires IMF funding support but will continue to work closely with the Fund on economic reforms and oversight.
Dr. Ato Forson attributed the country’s recent economic progress to fiscal discipline and reforms implemented to stabilise the economy and restore investor confidence.
He stressed that government’s priority moving forward would be to maintain macroeconomic stability, strengthen economic growth and prevent a recurrence of past economic crises.
“Fiscal prudence and discipline always deliver results,” he stated.
