Economic Policy Advisor at the Office of the President, Seth Terkper, says President John Dramani Mahama is pleased with the economic strides made in the first six months of his administration.
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Terkper cited the stability of the cedi, ongoing fiscal reforms, and progress with Ghana’s IMF programme as clear signs of improvement.
Speaking on The Point of View with Bernard Avle on Channel One TV on Monday, June 30, Terkper highlighted recent macroeconomic gains, including the successful completion of the IMF’s fourth review.
“At the halfway mark of the first year, I’d say things are going satisfactorily. There are solid measures in place, and that gives us reason to be cautiously optimistic,” he said.
He noted that although the government is relatively new, it came into office with experienced hands ready to continue key reforms. The fourth IMF review, he added, is expected to go before the IMF Board in July, with positive signals from IMF staff.
“We came in with experience, and we’re completing the 4th IMF review. All indications, including from the staff, show we’re on the right path,” Terkper explained.
He also emphasized the government’s ongoing efforts to clear outstanding liabilities, mentioning that some pension arrears had already been settled.
“There are a lot of liabilities, but we’ve started paying them. Pensions are an example. The IMF staff say benchmarks are being met,” he added.
Terkper concluded that if current trends continue, the IMF Board is likely to approve the programme, which will result in a fresh injection of funds to support the economy.
“This is what an austerity programme is meant to do, restore stability, meet targets, and unlock support,” he said.
