Ghana's IMF deal unshaken despite finance minister reshuffle

Ghana's President confirms continuity of $3 billion IMF deal despite finance minister reshuffle.
The assurance given during State of the Nation Address underscores commitment to economic recovery efforts.
The Finance Minister's replacement doesn't sway Ghana's resolve to implement IMF terms for healthy growth.

The country's president made this known during his State of the Nation Address in Parliament on Tuesday, February 27. He made sure to re-iterate his administration’s commitment to the country’s economic recovery and by extension the commitment to sustaining the IMF deal.

“Mr. Speaker, it is important to underline that the recent change in the leadership of the Finance Ministry will not affect the Government’s commitment to implementing the terms agreed with the IMF to ensure that we restore the economy to healthy growth as soon as possible,” Ghana’s president relayed.

Ghana’s Minister of Finance Ofori-Atta was dismissed mid-way into February following pressure from the public and parliament, all of whom had been calling for his resignation for around a year now.

According to the publication, MyJoyOnline, “Calls for his resignation stemmed from economic difficulties, with around 80 NPP MPs demanding his departure in October 2022 and similar requests made by the NDC parliamentary caucus in February 2023.”

However, up until February, the president held off on their request. Ken Ofori-Atta was replaced by Mohammed Amin Adam, the minister of state at the finance ministry, who has also held the office of deputy energy minister.