The Deputy Minister of Finance, Thomas Nyarko Ampem, has said the government successfully met and exceeded targets under Ghana’s International Monetary Fund (IMF) programme through prudent fiscal management and strict economic discipline.
According to him, the current administration restored confidence in the programme and stabilized key economic indicators without seeking waivers or extending the programme period.
Speaking on Asempa FM’s Ekosii Sen show, Mr. Ampem contrasted the government’s performance with that of the previous New Patriotic Party (NPP) administration, which he said had to renegotiate and extend the IMF programme after missing critical targets.
“We were able to meet our targets and even exceed them, unlike the NPP government, which sought a one-year extension of the IMF programme,” he stated.
Mr. Ampem explained that when Ghana entered the IMF programme in 2023, the country’s gross international reserves had nearly been depleted, creating severe economic challenges.
He noted that by the end of 2024, key programme targets were missed, including the inflation target of 16 percent, with inflation eventually ending the year at 23.8 percent.
“So the programme was derailed. When we came, we engaged stakeholders and went to Parliament to legislate measures that would help us achieve the targets, including a 1.5 primary surplus, to send a strong signal that the government was committed to bringing the programme back on track,” he explained.
The Deputy Finance Minister said the government implemented prudent financial management measures, fiscal consolidation policies, and closer coordination between fiscal and monetary authorities to stabilize the economy.
According to him, these interventions led to consistent reductions in inflation throughout 2025, improved debt sustainability, and greater exchange rate stability.
“Within 2025, inflation was going down every month. We committed to prudent financial management and fiscal consolidation, and through collaboration between the fiscal and monetary authorities, we were able to achieve those targets,” he said.
Mr. Ampem further disclosed that Ghana did not accumulate any arrears in 2025, while the country’s debt-to-GDP ratio reduced significantly and the cedi remained relatively stable.
“Now, for the first time, we have been able to finish the IMF programme and exceed the targets we set. The difference between us and the NPP is that they went to renegotiate the programme and extended it for another year. They also went for waivers. Today, we have met all the targets without waiver,” he added.
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