The International Monetary Fund (IMF) team, led by Mission Chief for Ghana Stephane Roudet, is set to wrap up discussions with the Government of Ghana on February 14.

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The talks, which began on Monday, February 10, have focused on Ghana’s progress under the IMF-supported programme and the government’s policy framework for the 2025 budget.

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Key areas under review include revenue administration reforms, energy sector adjustments, expenditure rationalization, and monetary and exchange rate policy. The Bank of Ghana (BoG), Ghana Revenue Authority (GRA), the Controller and Accountant General’s Department (CAGD), and other relevant institutions have been actively engaged in the discussions.

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The government has reiterated its commitment to sustaining macroeconomic stability, fostering job creation, and enhancing livelihoods. A successful review could pave the way for the IMF to release another tranche of financial support to the Bank of Ghana by June 2025.

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Additionally, the IMF team is scrutinizing the 2025 budget to ensure alignment with the ongoing programme, with particular focus on revenue mobilization and debt reduction. A significant point of contention is how the government plans to offset potential revenue losses should Finance Minister Dr. Ato Forson move forward with tax cuts, including the removal of the Betting Tax, Covid-19 Levy, and E-Levy.

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Sources indicate that eliminating these taxes could lead to an annual revenue shortfall of approximately GH₵10 billion, raising concerns about alternative fiscal measures to sustain economic stability.

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Dr. Forson has recently suggested the possibility of extending Ghana’s IMF programme to secure additional financial assistance for economic stabilization. The ongoing discussions serve as a platform for both parties to explore this option and finalize any necessary agreements.

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While the IMF remains open to adjustments in Ghana’s economic programme, it has stressed that any modifications must align with broader stabilization objectives. Since Ghana joined the IMF programme in May 2023, the country has received an estimated $1.9 billion in financial support.

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