The Member of Parliament for Walewale, Abdul Kabiru Tiah Mahama, has credited the John Mahama administration’s strict adherence to the International Monetary Fund (IMF) programme for Ghana’s improving economic stability one year after President John Mahama assumed office.
Speaking on Citi Eyewitness News on Wednesday, January 7, he admitted that the President, working closely with Finance Minister Dr Cassiel Ato Forson and Bank of Ghana Governor Dr Johnson Asiama, has consistently followed the IMF programme’s structural benchmarks and quantitative targets, a move he described as fundamental to the current stability.
According to him, Ghana would not have achieved the present level of macroeconomic calm if the government had deviated from the programme’s requirements, noting that discipline under the IMF framework has been key to restoring confidence in the economy.
Mr Tiah further said the government’s commitment to fiscal discipline has contributed to relative currency and price stability, helping to ease pressures that previously fuelled persistent price hikes across the country.
He commended the government for bringing down inflation, which stood at 23% in 2023, to 5.4%.
“The President, together with the Finance Minister and the BoG Governor, over the past year, has successfully and diligently followed the IMF programme, which is commendable. If we had not adhered to the programme’s structural benchmarks and quantitative targets, we probably wouldn’t have achieved the stability we are experiencing now. That is a fundamental achievement.
“The government has also maintained financial discipline, which has contributed to relative currency and price stability, another positive outcome. Generally, they have managed to reduce tensions caused by price hikes due to inflation, which at one point was at 23%, and have slowed it down. That is another accomplishment worth noting,” he said.
Your gov’t has done spectacularly well – Ishmael Yamson tells Mahama