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The Ghanaian government is currently in high-level discussions with the International Monetary Fund (IMF) on key economic issues, including tax reductions, revenue administration reforms, energy sector debt management, expenditure controls, and exchange rate stability.
The five-day engagements, taking place from February 10 to February 14, will play a crucial role in shaping Ghana’s economic outlook and policy direction for the 2025 budget.
As part of its fiscal strategy, the government plans to eliminate several major revenue measures, including the E-Levy, betting tax, and COVID-19 levy. These policy adjustments aim to ease financial burdens, reduce dependency on imported goods, and support macroeconomic stability under the IMF-backed program.
Leading the discussions is Stéphane Roudet, the IMF Mission Chief for Ghana, who is assessing the country’s economic progress and collaborating with government officials to refine fiscal policies ahead of the 2025 budget presentation.
Institutions such as the Bank of Ghana, Ghana Revenue Authority, and the Controller and Accountant General’s Department are actively participating in these negotiations.
According to Citi Business News, the outcome of these talks could have a major impact on Ghana’s economic policy, balancing fiscal discipline with strategies to stimulate economic growth. Market analysts have emphasized the importance of expenditure rationalization to address the budget deficit, urging the government to maintain fiscal prudence.
The fiscal deficit is projected to decline to 4.2% in 2025 as part of ongoing consolidation efforts. To support these measures, the government has already implemented cost-cutting initiatives, including reducing the number of ministers to 60 and restricting non-essential foreign travel for government appointees.
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