Story by Phalonzy
Economic Policy Advisor Seth Terkper has expressed satisfaction with the progress made by the Ghanaian economy under President John Dramani Mahama’s administration in its first six months.
Speaking on The Point of View with Bernard Avle on Channel One TV, Terkper highlighted the relative stability of the local currency and ongoing fiscal reforms as tangible evidence of improvement.
“We are consciously optimistic, and I’d say satisfactorily, because there are measures that you have to use to say I’m happy,” Terkper stated.
He attributed the progress to the government’s experience and ability to push key reforms forward, despite being relatively new. The successful completion of the fourth review of Ghana’s IMF programme is a notable achievement, with the review expected to go before the IMF Board in July.
Terkper noted that the government is making strides in clearing outstanding liabilities, including pension payments.
“We know that we have a lot of liabilities to be paid, and we know one or two of them that were paid, like the pensions,” he said. The IMF staff visiting the country have also provided encouraging feedback, indicating that the programme is on track.
“The staff who came into the country are saying that things are going well. The various structures, measures, benchmarks, and things have been met. You can be cautiously optimistic that the IMF board will pass your programme, and you will get some injections into the economy, which is the essence of an austerity programme,” Terkper added.
Ultimately, with these developments, the government is set to receive vital financial support, underscoring its commitment to fiscal consolidation and economic stability.
