Finance Minister Dr. Cassiel Ato Forson has made it clear that the government has no plans to renegotiate or prolong Ghana’s existing deal with the International Monetary Fund (IMF).

0

Speaking at a joint press conference with the IMF in Accra on Tuesday, April 15, Dr. Forson said the government is focused on sticking to the current programme, which aims to stabilise the economy and support long-term growth.

1

“Renegotiating pre-supposes that you don’t believe in the programme and so you want to open up the conversation to look at other parameters of the programme. That isn’t the position of the government. The government is committed to the implementation to achieve the objectives of the IMF programme,” he said.

2

Dr. Cassiel Ato Forson, the Finance Minister, acknowledged that some structural targets and benchmarks set by the previous government were not met before the current administration took office. However, he reassured the public that the government is committed to achieving the goals outlined in the IMF programme.

3

4

To strengthen the country’s financial situation, Dr. Forson discussed several initiatives aimed at improving expenditure control, reducing arrears, and ensuring fiscal responsibility. These measures are intended to enhance budget credibility and ensure long-term debt sustainability.

5

“We have commissioned the Auditor-General, together with two (2) international audit firms, to audit the payables and commitments to validate their legitimacy and values, and provide recommendations for corrective measures. The audit is expected to be completed within eight weeks,” he stated.

6

Dr. Forson also mentioned a recent change to the Procurement Act:“We have passed an amendment to the Procurement Act to ensure that the issuance of commitment authorisation (e.g., commencement certificate) by the Minister for Finance is a prerequisite for all central government procurements under the Authority or the Central Tender Review Committee.”

7

In addition, he announced plans to introduce a Public Financial Management (PFM) Commitment Control Compliance League Table. This tool will track and publish the compliance levels of Ministries, Departments, and Agencies (MDAs) in relation to the PFM Act.

8