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IMF lauds government for reducing ministries

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The International Monetary Fund (IMF) has commended the government for reducing the number of ministries in response to public concerns and the state of public finances.

The fund said the action was the “right example” and amounted to the government “tightening its belt” under a fiscal consolidation exercise that was expected to span this year and 2025.

The Resident Representative of the IMF in Ghana, Dr Albert Touna Mama, said in an interview with the Daily Graphic.

Ministries under President Nana Addo Dankwa Akufo-Addo’s second term has been reduced from 36 in the first term to 29.

“Cconsolidation is necessary to put public finances back in shape and contain the current strong increase in debt. In addition, the government is setting the right example by tightening its belt with the reduction in the number of ministries and possibly a pay rise freezes for its Executive arm,” he said.

Commenting on the fiscal consolidation programme contained in the 2021 Budget, Dr Mama said he shared in the concerns of the Bank of Ghana (BoG) that the integrity of the budget was largely tied to revenue estimates.

He said the concerns of the central bank, which were contained in the March Monetary Policy Committee press statement, were “genuine”.

On growth, the IMF Resident Representative said the fund expected the economy to grow at 4.6 per cent this year, lower than the government’s target of five per cent.

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