IMF bailout: Ghana to sustain fiscal success – Mahama

Ghana will continue to remain fiscally disciplined to achieve all targets set under the International Monetary Fund’s three-year programme with the country, President John Mahama has said.

The oil-producing West African country is under a $918 million bailout programme with the IMF which is aimed at putting its ailing economy in shape.

Speaking at a business forum in Mauritius, where he is on a three-day state visit, Mahama assured his government is on course to remain committed despite elections approaching.

“We have a strong commitment and I have a personal resolve as President to achieve fiscal consolidation over the next three years in which we are in an IMF programme,” Mahama told the gathering.

“We already are seeing much success in the first four months of 2015 and we will sustain this success.”

He added: “We are working to reign in expenditure in order to achieve the deficit target we have set for ourselves this year of 7.5%. In the meantime we are working to diversify our economy to add value and transform our economy.”

Mahama admitted that “despite current challenges, Ghana’s fundamentals remain very robust, average GDP growth rate of between 5 and 6%.”

He is expected to return Thursday.

Source: Ghana/starrfmonline.com/103.5FM