Stéphane Roudet, the International Monetary Fund’s (IMF) Mission Chief to Ghana, has conveyed a positive outlook regarding the current credit facility between the IMF and Ghana, forecasting promising outcomes in the coming months and years.
Speaking at a joint press conference with the Ministry of Finance and the Bank of Ghana on July 1, Roudet emphasized the potential benefits of the IMF’s proposed reforms for the nation’s economy.
Roudet acknowledged the significant economic challenges that Ghana is currently facing.
However, he stressed that with comprehensive adherence to the Fund’s reform agenda, Ghana is poised to witness substantial improvements.
His remarks highlighted the progress made under the Post-COVID-19 Programme for Economic Growth (PC-PEG), indicating that key economic indicators are on an upward trajectory.
“We understand the frustration of Ghanaians when the currency depreciates,” Mr. Roudet stated.
“However, it is crucial to remember where we are coming from. We emerged from a very painful crisis in 2022, and the achievements thus far are quite remarkable. What is important is the direction we are heading.”
Mr. Roudet pointed out several positive trends in Ghana’s economy.
“Things are improving: the fiscal and external positions are strengthening, inflation is decreasing, and growth is on the rise. Everything is moving in the right direction.”
He assured that the IMF programme will remain in place as long as the Ghanaian government continues to implement the PC-PEG reforms.
“I am very optimistic that things will improve. Ghana is on the right track, and I believe Ghanaians will see the benefits of these reforms in the months and years ahead.”
Mr. Roudet’s optimistic tone is a hopeful signal for Ghana, which has been grappling with economic difficulties exacerbated by the global COVID-19 pandemic.
The IMF’s support, combined with the government’s commitment to reform, is expected to drive the country towards a more stable and prosperous economic future.
The joint press conference served as a platform for the IMF, the Ministry of Finance, and the Bank of Ghana to reaffirm their collaborative efforts in steering the nation’s economy back on track.
As Ghana navigates its post-pandemic recovery, the international community, led by institutions like the IMF, remains a crucial partner in its journey towards sustainable economic growth.
Story by: Joshua Kwabena Smith
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