30.2 C
Accra

New Finance Minister Vows to Keep IMF Programme on Track

The New Ghana Finance Minister promises to achieve revenue goal and reduce its fiscal gap.

The new Finance Minister, Dr. Mohammed Amin Adam, has pledged to the IMF and the business community that he will uphold the Fund’s programme that aims to stabilize the country’s economy.

According to Dr. Adam, he would make sure that the programme delivers benefits for both Ghana and the IMF.

He made this statement to Citi FM, after taking over the finance portfolio from his predecessor, Ken Ofori Atta, barely 24 hours ago.

- Advertisement -

“It is important to note that we are under an IMF programme and I want to assure the IMF and the business community that I will ensure that the programme remains on track. I will work to ensure that the programme does not suffer,” he told Citi FM.

He also said that his Ministry will act swiftly and apply the tax cuts in the 2024 Budget to help the poor.

“If you look at the budget that was presented this year, there were a number of pro-poor initiatives, and I do not intend to depart from those pro-poor initiatives. And I will ensure that business follows as usual as it should,” he said.

Dr. Amin Adam added he will concentrate on programmes that help the poor and improve their living conditions, while also keeping businesses afloat.

- Advertisement -

“We will make sure that we move faster to implement the tax reliefs that were made in the budget [2024] and I am going to make sure the poor are insulated.” he added.

Ghana is currently in its 18th IMF programme, which started in May 2023. The programme provides $1.2 billion to Ghana to help it deal with its fiscal challenges, such as high inflation and a weak currency.

Ghana received the first half of the money in May 2023, and the second half in January 2024, after overcoming some delays caused by its difficulties in negotiating with its foreign creditors on how to restructure its debt.

Dr. Mohammed Amin Adam has made significant contributions to the governance and development of Ghana. Born on April 15, 1974, Dr. Adam has served in various capacities within the Ghanaian government. As of 2024, he holds the position of Minister of Finance of Ghana, a role that places him at the forefront of the country’s economic planning and policy implementation.

In previous roles he was the Deputy Minister for Energy, specifically responsible for the petroleum sector. Dr. Adam is also the Member of Parliament for the Karaga Constituency in the northern region of Ghana, representing the New Patriotic Party (NPP).

Throughout his career, Dr. Adam has been involved in the extractive industries and resource management. He has worked as a university lecturer, advisor on resource governance, and a campaigner for transparency in resource management globally. His efforts have extended beyond the borders of Ghana, offering advice to governments and technical support to civil society organizations worldwide on matters related to the extractive sector​​​​​​.

 

While you're here, we just want to remind you of our commitment to telling the stories that matter the most.Our commitment is to our readers first before anything else.

Our Picks

THE LATEST

INSIDE POLITICS

Get the Stories Right in Your Inbox

MORE NEWS FOR YOU