BusinessEconomyFinance

We’ve been managing economy prudently, says Stephen Amoah

The Ministry of Finance (MoF) announced on Wednesday (12 June) the finalisation of a memorandum of understanding (MoU) with the official creditor committee, formalising an agreement reached in January

Ghana is set to receive a crucial US$360 million cash injection from the International Monetary Fund (IMF) by the end of 2024, following the finalisation of a debt restructuring agreement with creditors.

The Ministry of Finance (MoF) announced on Wednesday (12 June) the finalisation of a memorandum of understanding (MoU) with the official creditor committee, formalising an agreement reached in January.

This critical step, according to Deputy Finance Minister Stephen Amoah, opened the door for the IMF’s approval of the second review of Ghana’s US$3 billion loan programme.

“The MoU has paved way for the IMF executive board approval of the second review of our fund-supported programme and this will allow disbursement of the next tranche of IMF financial 360 million by the end of 2024,” Amoah explained on the Asaase Breakfast Show on Thursday (13 June).

The deputy minister emphasised the importance of the funding for Ghana’s budget, particularly in stabilising the depreciating cedi and building up international reserves.

“This is critical for our budget in terms of exchange rate stability and international reserve buildup,” Amoah said.

“Ghana Government, in simple terms, passed the second test and because of that, we are getting US$360 million and it’s going to help us have at least preliminary stabilisation of our currency and also our reserves and that will be a very important factor in trying to consolidate the growth—that is, the trajectory that we are on as a country.”

Amoah addressed concerns about the economy, assuring Ghanaians that the government has successfully navigated a difficult period and is now on a path to progress.

“We have been managing the economy prudently,” he said.

“The former minister [Ken Ofori-Atta] said we are turning the corner; that is true now we’ve turned [the corner], we’ve moved beyond the corner and we are progressing.”

Asaase Broadcasting Company airs on Asaase 99.5 Accra, Asaase 98.5 Kumasi, Asaase 99.7 Tamale, Asaase 100.3 Cape Coast, AsaasePa 107.3 (Accra).
Affiliates: Azay FM 89.1 (Takoradi), Bawku FM 101.5, Bead FM 99.9 (Bimbilla), Mining City Radio 89.5 (Tarkwa), Nyatefe Radio 94.5 (Dzodze), Somuaa FM 89.9 (Gushegu), Stone City 90.7 (Ho) and Wale FM 106.9 (Walewale).

Listen online: 
asaaseradio.com, Sound Garden and TuneIn.
Follow us:
X
@asaaseradio995@Asaase985ksi@Asaase997tamale@asaase1003asaasepa1073
Instagram
asaaseradio99.5asaase985ksiasaase100.3asaase99.7tamaleasaasepa107.3
LinkedIn
company/asaaseradio995TikTok@asaaseradio99.5
Facebookasaase99.5asaase985ksiAsaase100.3asaase99.7AsaasePa107.3.
YouTube
AsaaseXtra.
Join the conversation. Accra: call 020 000 9951/054 888 8995, WhatsApp 020 000 0995. Kumasi: call 059 415 7985 or call/WhatsApp 020 631 5260. Tamale: call/WhatsApp/SMS 053 554 6468. Cape Coast: call/WhatsApp 059 388 2652.

#AsaaseRadio
#AsaasePa
#TheVoiceofOurLand

Show More

Related Articles

Back to top button

Adblock Detected

ALLOW OUR ADS