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Ghana passes fifth review of IMF programme
Ghana has reached a significant milestone in its economic recovery efforts with the successful conclusion of a Staff-Level Agreement (SLA) with the International Monetary Fund (IMF) following the Fifth Review Mission under the US$3 billion Extended Credit Facility (ECF) programme.
Finance Minister Dr. Cassiel Ato Forson confirmed that the Government has achieved all six Quantitative Performance Criteria and four Indicative Targets for the review period. He described the agreement as a powerful validation of the disciplined and comprehensive strategy pursued over the past nine months.
The Minister noted that Ghana is beginning to see strong outcomes from President Mahama’s Reset Agenda.
Economic growth has accelerated, with non-oil sectors, where most jobs are created, showing impressive expansion.
Inflation has fallen sharply, returning to single-digit levels, while interest rates have declined significantly.
The Ghana cedi has demonstrated notable strength and stability, and fiscal consolidation efforts are yielding results, reflected in a budget surplus and a substantial reduction in public debt.
He also announced significant progress in bilateral debt restructuring efforts, with the government committed to finalising all outstanding agreements before the end of the ECF programme.
The IMF Executive Board is expected to consider Ghana’s Fifth Review by the end of December 2025. Once approved, it will unlock a disbursement of US$385 million, bringing total disbursements under the programme to US$2.6 billion.
Finally, on behalf of the President, Dr. Forson extended gratitude to the people of Ghana for their patience and resilience and thanked the IMF mission team for their constructive engagement and tireless work.
A leading member of the newly rebranded United Party, also known as UP, Hopeson Adorye, has called on Ghanaians who feel dejected or oppressed in politics to join the new party, describing it as a better political home for all.
He made these remarks at the launch and rebranding of the Movement for Change into the United Party (UP) at the Coconut Grove Hotel in Accra on Thursday, October 16.
Mr. Adorye explained that the party was fully ready to serve as an alternative political force to address Ghana’s challenges.
He noted that the UP leadership was focused and determined to change the country’s political structure and bring meaningful transformation.
He stated that the party’s vision was to build a united Ghana, stressing that without unity, the nation could not make real progress.
According to him, the mission of the UP was to create a prosperous country where every citizen could provide for themselves and their families.
Mr. Adorye emphasised that the new party was not formed to destroy any existing political organization but to contest and win elections to bring about the needed change.
He expressed confidence that many Ghanaians from different political backgrounds, including those dissatisfied with their current parties, would join UP+ because of its values and inclusive ideology.
He added that the party was building its structures from the grassroots and hoped to complete them by the end of the year as part of efforts to strengthen its national presence.
The Founder of the United Party (UP), Alan Kwadwo Kyerematen, also addressed the gathering and reflected on the transformation of the Movement for Change into the UP+.
He explained that the rebranding marked a new phase of political renewal, symbolized by the monarch butterfly in the party’s logo, which represents transformation, resilience, and endurance.
Mr. Kyerematen noted that the colors of the party yellow, black, and white stood for Ghana’s gold resources, the black star of Africa, and purity, respectively.
He stated that the UP stands for ethical leadership, integrity, and unity, adding that many of its members entered politics to serve the nation, not for personal gain.
He revealed that the party’s Great Transformational Plan (GTP), which has received global recognition, would guide the UP+ government when elected.
“The plan is designed to stabilize the economy, reduce the national debt, and promote industrial growth through ten strategic anchor industries” he added.
He explained that the health policy would emphasize preventive care, community-based services, and the inclusion of traditional and herbal medicine, which many Ghanaians rely on.
Mr. Kyerematen further stated that the UP would promote a strong Pan African agenda, explaining that Ghana’s prosperity must be tied to the wellbeing of the entire continent.
He noted that the party believes in Ghana first, and its policies were anchored on uniting the country and restoring hope in national development.
By: Jacob Aggrey
Flagbearer hopeful of the New Patriotic Party, Dr. Mahamudu Bawumia, has appealed to the rank and file of the party to rally behind him as he prepares to lead the party in the 2028 elections.
Addressing delegates in Sene East during his campaign tour, he highlighted key contributions to the party.
He revealed that at the behest of former president, Nana Addo Dankwa Akufo-Addo, he left his job at the Bank of Ghana to work for the NPP.
According to him, many asked him to rescind the decision. However, because of his loyalty to the party, he resigned from the bank to be their running mate.
He added that at the African Development Bank, he resigned in 2012 just to serve the party at the highest level.
“I defended the party in 2012. We lost, but I stayed in Ghana to put pressure on John Dramani Mahama and the NDC,” he added.
He is therefore urging the party to choose continuity and to back his leadership.
By: Jacob Aggrey
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