President confirms ending Ghana’s IMF programme this year

President Nana Addo Dankwa Akufo-Addo has said the three-year programme between Ghana and the IMF will end this year as agreed.

He said this during his presentation of the second State of the Nation Address to parliament.

Delivering the address Nana Addo Dankwa Akufo-Addo said, “I am also pleased to report that the 3-year IMF-supported Extended Credit Facility Programme, begun in 2015, comes to an end this year.

The relatively good macroeconomic performance in 2017 will strongly support our successful completion of the IMF programme.”

He further stated that, “We are determined to put in place measures to ensure irreversibility, and sustain macroeconomic stability, so that we will have no reason to seek again the assistance of that powerful global body.”

Government in 2017 reached an agreement with the International Monetary Fund (IMF) to extend the Credit Facility programme by another year following a conclusion of an assessment of the fourth review of the Extended Credit Facility by the IMF board.

Ghana in 2015, entered into an agreement with the International Monetary Fund for economic assistance under the erstwhile John Mahama administration.