The Governor of the Bank of Ghana (BoG), Dr Ernest Addison has emphasised the need for steadfastness and commitment to see through reforms under the International Monetary Fund (IMF) programme.
Ghana has secured the IMF’s Board approval for the second review of the IMF-supported post-COVID-19 Programme for Economic Growth (PC-PEG).
This allows for the immediate disbursement of SDR 269.1 million (about US$360 million) to Ghana.
According to the IMF, Ghana’s performance under the programme has been generally strong.
Speaking at the Ministry of Finance and IMF presser on Monday, the Governor stressed that with the successful conclusion of the second review, there was the need for the country to begin to think about the third review of the programme.
“With the successful conclusion of the second review, we need to begin to think of the third review of the programme and beyond and take advantage of the reform momentum.”
“Steadfastness and commitment will be needed from now till the end of the year to see through all the structural reforms envisaged under the programme including the signing of the MoU between the MoF and the BoG and the recapitalisation of the central bank. This will strengthen the centrals bank’s credibility to effectively deliver on its efforts,” he stated.
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