$3bn IMF-supported programme not on track – Ato Forson

Finance Minister Dr. Cassiel Ato Forson has revealed that Ghana’s $3 billion IMF-supported programme is off track due to the country missing key performance targets and structural benchmarks.

Speaking on The Point of View on Channel One TV, he attributed the setbacks to the previous administration’s failure to meet critical IMF conditions. He noted that Ghana was expected to achieve a 0.5% GDP surplus but instead recorded a 3.9% deficit.

Inflation, which was projected at 15%, surged to 23.8%, triggering discussions with the IMF regarding monetary policy adjustments. Additionally, social spending targets were not met, further contributing to the program's derailment.

Dr. Forson emphasized that these missed targets would be a major focus in the upcoming IMF review as the government works to restore the programme's credibility.