Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has firmly dismissed any possibility of renegotiating or extending the country’s current programme with the International Monetary Fund (IMF), stating that government’s focus is firmly on implementation, not revision.
Speaking at a joint Ministry of Finance-IMF press conference in Accra on Tuesday, Dr. Forson emphasized the administration’s unwavering commitment to achieving the programme’s objectives, despite the inherited challenges.
“Renegotiating presupposes that you don’t believe in the programme. That is not the position of the government. We believe in it, and we are committed to seeing it through to achieve its intended goals,” the Minister stated.
With public scrutiny mounting over expenditure and fiscal management, Dr. Forson revealed an aggressive push toward transparency and discipline in public finances.
He announced the commissioning of the Auditor-General and two international audit firms to conduct a comprehensive audit of government payables and commitments — a move aimed at verifying legitimacy and recommending corrective action. The audit is scheduled to be completed in eight weeks.
In a bid to tighten procurement oversight, the government has also amended the Procurement Act. Now, all central government procurements must receive commitment authorization from the Finance Minister before moving forward.
“These reforms are not just policy decisions — they are legally binding measures to safeguard public funds and restore credibility to our budgeting process,” Dr. Forson noted.
New Compliance Scorecard for MDAs
To further enforce fiscal discipline, the Ministry of Finance is introducing a PFM Commitment Control Compliance League Table — a public ranking of Ministries, Departments, and Agencies (MDAs) based on their adherence to financial management regulations under the PFM Act.
“This compliance table will name and rank MDAs by how well they follow the rules. It’s not just about penalties — it’s about creating a culture of accountability,” he said.
While acknowledging that some structural benchmarks and targets were missed before the Mahama administration took office, Dr. Forson assured Ghanaians and development partners that the current leadership is fully aligned with the IMF’s reform agenda.
With the successful conclusion of the IMF’s fourth review mission and a Staff-Level Agreement reached, the Finance Minister reaffirmed government’s resolve to build a stronger, more resilient economy — without altering the current course.
“We are not looking back or sideways. We are marching forward with purpose and precision,” he declared.
