The Minister of Finance, Ken Ofori-Atta, says the clinching of the $3 billion Extended Credit Facility (ECF) deal with the International Monetary Fund (IMF) will help bring the country back on the path of growth, macroeconomic stability and debt sustainability.
"Though the government acknowledges the IMF programme is not the magic wand to address all the socio-economic and development challenges facing the country, it is the first step to restoring economic stability and promote inclusive growth," he said during a joint virtual press conference between Ghana and the IMF in Washington yesterday,
Mr Ofori-Atta said it would require hard work and collective support and sacrifices from all the citizens and stakeholders to address the macroeconomic challenges facing the country. He said the government would work to achieve the targets set under the programme to enable the country to access all the $3 billion earmarked for the programme, and mentioned some of the targets as improving revenue, cutting expenditure and zero financing of the budget of the BoG.
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