A team from the International Monetary Fund (IMF), led by Joël Toujas-Bernaté, visited Accra from February 6-10, 2017 to take stock of the 2016 economic developments and the outlook for 2017, engage in a dialogue about the new government’s economic plans, and discuss prospects for program engagement with the IMF.
Mr. Toujas-Bernaté released the following statement at the end of the visit:
“Ghana’s economy continues to face challenges. While the estimated economic growth of 3.6% in 2016 exceeded our target of 3.3%, the decline in inflation has been slower than expected. The current account deficit narrowed to 6 ½ percent of GDP, contributing to a small buildup of foreign exchange reserves.
Accra, February 6, 2016 - An eleven-member IMF Mission, currently in the country has paid a courtesy call on the Minister for Finance, Hon. Ken Ofori-Atta today.
The IMF Team was led by Joel Toujas-Bernate and Natalia Koliadina, the IMF Resident Representative in Ghana.
In his address, the Mission Chief, Mr. Joel Toujas-Bernate stated that the main objective of the Mission was to engage with the new government on their policies and programmes, take stock of the latest developments and apprise government on how the IMF program implementation has gone so far.
Thursday, 2nd February, 2017; The Ministry of Finance and the Economic Management Team has begun the process of preparing the 2017 budget and Economic Policy of Government.
2. Our focus is to audit the fiscal accounts and provide a credible basis for economic policy going forward. Our commitment is to restore fiscal policy credibility and transparency as well as policy clarity.
3. As part of the process, the Honourable Minister has held bilateral meetings with the various Ministries, Departments and Agencies to review their policies and ensure consistency with the Government’s medium term policy strategy.