Investors Have Confidence in Gov’t Policies – IMF

Country representative for the International Monetary Fund (IMF), Dr. Natalia Koliadina, has indicated that investors are very confident in policies being put in place by the New Patriotic Party (NPP) government.

Speaking to GNTV’s Bright Nana Kwesi Amaning recently, she opined that, the current government has the capacity to achieve a more stable and strong economy than what it was before, stressing that there are already signs of growth in the country’s economic indicators.

In March, 2018, the IMF asked Ghana to legislate new measures to boost revenues by at least 0.5 per cent of Gross Domestic Product (GDP) before it would review a $918 million credit, which was due in April 2018. The Fund also charged the West African nation to outline plans to clean up the financial sector and show stronger commitment to cut debt, including limiting its next Eurobond for budget support to $500 million.

Then on the 22nd of August 2018, IMF confirmed that investors are now confident in Ghana’s economy, sending a sign of better days ahead.  According to Dr. Koliadina, financial imbalances were accumulated in the National Democratic Congress (NDC) administration, which led to the alarming increase in debts and a rippling decline of the country’s economy.

It would be recalled that in February 2017, President Nana Akufo-Addo revealed that Ghana missed nearly all targets set for the country under the International Monetary Fund (IMF) Extended Credit Facility program of US$918 million when the NDC was in power. He explained that the government at that time missed the targets due to financial and fiscal indiscipline in the management of public funds.