Finance Minister-designate, Dr. Mohammed Amin Adam, has reported substantial strides in meeting the objectives set out in the 3-year, US$3bn International Monetary Fund (IMF)-supported Post Covid-19 Programme for Economic Growth (PC-PEG).

The ministerial appointee made this known on Tuesday while engaging the press.

“The Ministry of Finance is working with the BoG in preparation for the IMF 2nd Review Mission. Preliminary assessment undertaken by MoF and BoG shows that we are on course to meet most of the targets under the Programme.”

Dr. Amin Adam also highlighted that the Ministry is working closely with the Bank of Ghana (BoG) to ready for the International Monetary Fund's (IMF) second review mission, slated for April 2 to 12.

This comes after the successful completion of the first review of the IMF programme on January 19, 2024.

“During the 2nd Review, the IMF mission will engage the authorities in technical and policy discussions to enable them to assess Ghana’s performance on programme objectives, the 6 Quantitative Performance Criteria (QPCs), the 3 Indicative Targets (ITs), 1 Monetary Policy Consultation Clause (MPCC), and the Structural Benchmarks (SBs) with respect to end Dec 2023 targets. They will also review performance towards upcoming QPCs, ITs, and SBs,” he added.

The minister-designate emphasized that the approval of the 2nd Review by the IMF Executive Board, expected in June 2024, would lead to the release of the 3rd tranche of US$360 million. This would bring the total disbursements under the programme to US$1.56 billion.

“The 2nd Review will be the first of the two semi-annual reviews programmed for 2024. The 3rd Review has been programmed for Nov 2024,” he added.