Dr. Cassiel Ato Forson, has affirmed that the government is steadfast in its commitment to implementing the current International Monetary Fund (IMF) program without renegotiation or extension.
Speaking at a joint press conference with the IMF in Accra, Dr. Forson emphasized the administration’s dedication to restoring macroeconomic stability and driving sustainable growth.
“Renegotiating pre-supposes that you don’t believe in the programme and so you want to open up the conversation to look at other parameters of the programme. That isn’t the position of the government. The government is committed to the implementation to achieve the objectives of the IMF programme,” Dr. Forson declared.
While acknowledging that previous administrations missed some structural benchmarks and quantitative targets, Dr. Forson assured that the current government is resolute in meeting the program’s objectives.
To achieve this, the government has outlined measures to bolster expenditure controls, eliminate arrears accumulation, enhance budget credibility, and promote fiscal and debt sustainability.
A key initiative involves commissioning the Auditor-General, alongside two international audit firms, to conduct an audit of payables and commitments. This audit aims to validate the legitimacy and value of these commitments and provide recommendations for corrective measures, all within an eight-week timeframe.
Dr. Forson also highlighted a recent amendment to the Procurement Act, stating, “We have passed an amendment to the Procurement Act to ensure that the issuance of commitment authorisation commencement by the Minister for Finance is a prerequisite for all central government procurements under the Authority or the Central Tender Review Committee.”
Furthermore, the government plans to launch a Public Financial Management (PFM) Commitment Control Compliance League Table. This initiative will track and publish compliance levels of Ministries, Departments, and Agencies under the PFM Act, ensuring transparency and accountability.
