Mahama pledges continued fiscal discipline beyond IMF programme

President John Dramani Mahama has reaffirmed his commitment to fiscal discipline. Ghana aims to exit the International Monetary Fund (IMF) programme by 2026.

He spoke at the 9th Ghana CEO Summit on May 26. The theme was “Transforming Business and Governance for a Sustainable Futuristic Economy.” President Mahama highlighted the need for responsible government spending and borrowing. This is crucial as the country works on its economic recovery.

“Completing the IMF programme with discipline is essential,” he said. He emphasized continuing disciplined government expenditure and borrowing. The goal is to meet all targets under the extended credit facility programme with the IMF.

The President also mentioned that the government is on track for a fourth review of the IMF programme by June 2025. This review is vital for Ghana’s economic stability and financial independence.

“After this, we will engage in Article IV consultations,” he added. This will lead to adopting the Policy Support Instrument framework. It signals Ghana's return to responsible, non-borrowing engagement with the Fund.