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By Francis Ntow\u202f\u00a0<\/p>\n
Accra, Nov. 24, GNA \u2013 Mr Ken Ofori-Atta, the Finance Minister, says Ghana and the International Monetary Fund (IMF) have agreed on a strategy for the country\u2019s economic recovery.\u00a0<\/p>\n
\u202fThe strategy includes a preliminary fiscal adjustment path and financing requirement to help Ghana navigate through the current economic difficulties.\u202f\u00a0<\/p>\n
Mr Ofori-Atta, who delivered the 2023 budget statement and economic policy to Parliament on Thursday, said the strategy would be in line with Government\u2019s Post-COVID-19 Programme for Economic Growth (PC-PEG).\u202f\u00a0<\/p>\n
\u201cThe PC-PEG is Government\u2019s blueprint to restore macroeconomic stability, promote debt sustainability, sustain economic recovery and support structural reforms,\u201d the Finance Minister said. \u202f\u00a0<\/p>\n
\u201cWe are now embarking on a journey to fundamentally reposition our economy with the PC-PEG, to be supported by the IMF, World Bank and other friendly sovereigns and the private sector (domestic and international), as our blueprint.\u201d The Minister emphasised.\u202f\u00a0<\/p>\n
He, however, asked Ghanaians to brace themselves for the costs associated with the economic and structural reforms and make some sacrifices to support the Government.\u202f\u00a0<\/p>\n
Mr Ofori-Atta said: \u201cWe are mindful that it will require broad-based contributions and sacrifices. There will be costs to the fiscal adjustments we intend to make in the coming years to sustain our stability, recovery and eventual transformation.\u201d\u202f\u00a0<\/p>\n
On the part of the Government, the Finance Minister pledged that there would be fiscal discipline and said that \u201cevery pesewa that we ask the Ghanaian people and businesses operating in Ghana to contribute will be spent well\u201d.\u00a0\u00a0<\/p>\n
He assured of Government\u2019s strong commitment to secure the IMF loan support programme \u201cvery soon\u201d, which he said would help the country in its post-COVID recovery efforts.\u202f\u00a0<\/p>\n
\u201cOur disagreements notwithstanding, what should never be in doubt, especially in the eyes and ears of the general public, is our common desire to serve the Republic,\u201d the Mr Ofori-Atta said.\u00a0\u00a0<\/p>\n
Ghana officially started engaging the IMF in September 2022 for a loan support programme, which is aimed at establishing a macro-fiscal path that ensures debt sustainability and macroeconomic stability underpinned by key structural reforms and social protection.\u202f\u00a0<\/p>\n
GNA\u00a0<\/p>\n