Govt won’t renegotiate IMF deal – Ato Forson

Finance Minister Dr. Cassiel Ato Forson announced that the government will not renegotiate or extend Ghana’s program with the IMF. He spoke at a press conference with the IMF in Accra on April 15.

Dr. Forson emphasized the government's commitment to fully implement the program. This aims to restore macroeconomic stability and promote sustainable growth. He stated, "Renegotiating suggests a lack of belief in the program." The government is focused on achieving the IMF program's objectives.

He acknowledged that some targets were missed before his administration took office. However, he stressed their commitment to meeting these objectives.

To strengthen expenditure controls, Dr. Forson outlined several measures. These include eliminating arrears and improving budget credibility. He mentioned commissioning an audit by the Auditor-General and two international firms. This audit will validate payables and commitments within eight weeks.

Dr. Forson also discussed a recent amendment to the Procurement Act. This amendment requires commitment authorization from the Finance Minister for all central government procurements. Additionally, he plans to launch a Public Financial Management Compliance League Table. This table will track compliance levels of Ministries, Departments, and Agencies under the PFM Act.