Mahama says Ghana’s IMF programme was close to derailment before he took over

President John Dramani Mahama has disclosed that Ghana’s programme with the International Monetary Fund (IMF) was facing serious challenges and risked collapsing before his administration assumed office.

Speaking during the “Resetting Ghana” tour in the Savannah Region on Saturday, May 23, the President said several key targets under the IMF-supported programme had been missed by the time the National Democratic Congress (NDC) government took office in January 2025.

According to him, the situation forced his administration to introduce tough corrective measures within its first few months in office to restore confidence and keep the programme on track.

“We have also come to the end of the IMF programme. We inherited the IMF programme from the previous government. At the time we took over from the previous government, all the agreed performance indicators were off track. It meant that the programme was in danger of derailment,” he stated.

President Mahama explained that the measures implemented by his administration helped stabilise the programme and secure positive assessments from subsequent IMF review missions.

He added that Ghana is now awaiting approval from the IMF Executive Board for the release of the final 380 million dollar tranche, while stressing that the country’s economic recovery remains ongoing.

“But we’re not going to have a kenkey party because we believe that it is still a work in progress,” he said.

المصدر: MyJoyOnline (GH)