Minister of State at the Finance Ministry and Member of Parliament for Atiwa East constituency, Hon. Abena Osei-Asare has disclosed that the government has made efforts to ensure that the IMF programme is not negatively affected this year due to the upcoming elections.
Speaking on the floor of Parliament during discussions of the Mid Year Budget Review, Hon. Abena Osei-Asare stated the current state of the IMF program is a clear indication that the government is on track.
“I want to assure the House that with a mindset of possibilities, we are going to make sure we stay on course on the implementation of the IMF program. We are going to make sure we stay on course on the expenditures approved for us and ensure we stay on course in optimizing the mobilization of domestic revenue.”
She also attributed the moderation of the exchange rate and improvement in international reserves as well as positive indications for trade and external balances to structural reforms the government had implemented since 2017.
“Mr. Speaker, the exchange rate is also being moderated and we are hoping to bring it down to levels that works for all of us. When you look at our international reserves, Mr. Speaker, that is also improving compared to 2023. It was around 2.5 months of imports but as we speak, it is 3.1 months of imports at the end of June and the trade balances and all our external balances are all trading in the positive.”
“So, clearly tells you that we are making some recoveries and we hope to continue with that. Mr. Speaker, there’s one important thing that we feel to recognize every time. It is the structural reforms that we have put in place to get to where we are.”
Hon. Abena Osei-Asare added that the government has been able to promote transparency and accountability and is bent on spending within its limits.
“Prior to 2017, we never had reports on the audit reports, audit committee reports, the media review and all the other things. But since 2017, this government has been subjected to many reports which we had to bring to parliament which clearly tells you that we have promoted transparency and accountability under this government.”
Hon. Abena Osei-Asare further stated that the government prioritizes an inclusive approach where the citizenry are involved the economic management of the country.
“We are also going to pursue an inclusive approach to economic management where everybody, everybody matters on this table.“
Story by: Alexander Kuuku Osei-Baidoo | univers.ug.edu.gh
