President John Dramani Mahama
President John Dramani Mahama has expressed strong confidence that Ghana will successfully complete its $3 billion Extended Credit Facility (ECF) program with the International Monetary Fund (IMF) by its scheduled end in April 2026, without the need for an extension.
Speaking at an aftermath conference of the Kwahu Business Forum with business leaders, President Mahama reiterated his commitment to maintaining fiscal discipline throughout the IMF-supported program and beyond.
“I can assure you that we will maintain fiscal discipline and prudence during the IMF program, but our discipline will not end there,” he said. “Even after we exit next year, my hope is that we will have implemented the program so effectively that there will be no need for an extension beyond April 2026,” he said.
The president emphasised that responsible economic management would continue even after the programme concludes, helping to create a more stable environment for private sector growth.
“After we complete the program, we will continue to manage government expenditure responsibly and maintain disciplined economic management, creating more space for private sector growth,” he noted.
He also reaffirmed his commitment to empowering the private sector, describing it as the engine of economic recovery and a critical player in addressing the country’s unemployment challenges.
“If the private sector thrives, the economy thrives. If the private sector is happy, government is happy. It is the private sector that can absorb and employ the teeming youth graduating from all levels of our educational system,” he stated.
His comments come as Ghana continues its efforts under the IMF program to stabilise the economy, improve public finance management, and restore investor confidence.
SP/EB
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