Finance Minister Designate Discloses Plans to Borrow More From IMF

The Minister-designate for Finance, Cassiel Ato Forson has disclosed the government’s plan to source funding from the International Monetary Fund (IMF) to run the country.

Ahead of a meeting with an IMF team visiting Accra, the legislator said other domestic, and international partners are also being engaged in that regard.

“We are committed to work with the IMF, but we also want to ensure that we can raise financing; additional finance, working with IMF and other domestic, international partners,” Ato Forson told reporters.

According to the former Deputy Finance Minister, this would be a reliable alternative source of funding to Treasury bills and other sources of revenue to the Ghanaian government.

“The reliance on Treasury bills and others has not been very helpful.”

This comes after data suggested that Ghana is the second most indebted country to the International Monetary Fund in Africa in terms of Concessional Lending and Debt Relief Trust.

Meanwhile, Databank Research projects that the government will borrow approximately GH₵200 billion from the Treasury bill market in 2025.

This will represent a reduction from an estimated GH₵220 billion in 2024 and reflects an average weekly borrowing of GH₵3.9 billion, down from GH₵4.2 billion in the previous year.

Source: opemsuo.com/Hajara Fuseini