The International Monetary Fund (IMF) has permitted a one-year extension of Ghana’s $918 million credit-facility programme. This, following a review of the nation’s progress on monetary and fiscal reforms. The extension allow Ghana more time to achieve targets, such as narrowing the budget shortfall.
While the IMF recommended the programme be extended to allow Ghana more time to reach fiscal-consolidation targets, President Nana Akufo-Addo (pictured) has said the 2018 budget is the last one that will be drawn up under the plan.
The IMF said in a statement:
"The new government has committed to macroeconomic stability, fiscal discipline and an ambitious reform agenda. Decisive implementation of these policies and reforms would allow Ghana to reap its economic potential and achieve higher and more inclusive growth rates."
