Tariff hike part of IMF conditionalities – Ato Forson

The Minister for Finance, Dr. Cassiel Ato Forson, provided clarification on recent utility tariff increases. The Public Utilities Regulatory Commission (PURC) announced a 14.75% rise in electricity tariffs and a 4.02% increase in water charges. These changes will take effect on May 3, 2025.

Dr. Ato Forson stated that the adjustments are necessary for Ghana's program with the International Monetary Fund (IMF). They will help unlock $370 million from the IMF.

At a press conference in Accra on April 15, he explained the situation. He noted that the quarterly adjustment by PURC was delayed but is now aligned with statutory benchmarks.

He also addressed rumors about renegotiating Ghana’s deal with the IMF. Dr. Ato Forson emphasized that the government has no plans to renegotiate.

“Renegotiating suggests doubt in the program,” he said. “The government is committed to achieving the IMF program's objectives.”

He acknowledged some missed targets before his administration took office but reaffirmed commitment to meeting future goals.