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While Ghanaians are brooding over the tough measures in the 2015 budget, which many believe will worsen an already bad high cost of living, the International Monetary Fund (IMF) has hinted of several other measures in the pipeline that could further impoverish Ghanaians. �The IMF team will continue to support the authorities as they work in the coming weeks in several areas, including to take concrete steps in cleaning up the payroll, finalise the remaining details of their medium-term reforms, and to seek external financing assurances from bilateral donors and international institutions. �Once this work is completed, a financial arrangement to support Ghana�s economic programme would be agreed at staff level before being proposed for the IMF Executive Board's consideration,� a statement by an IMF mission, led by Mr Jo�l Toujas-Bernat�, has said. The government has imposed a petroleum tax of 17.5% and continue to freeze hiring of public sector workers as part of its drive to reduce spending and increase revenue. Economic growth will also slow sharply to 3.9% in 2015 from an expected 6.9% this year, a further sign that lower commodity prices and a fiscal crisis are hurting the economy. The fiscal problems hurt ordinary people. The IMF mission was in Accra from November 6 to 20, 2014 to discuss Ghana�s economic and financial programme and a possible financial support by the IMF. The mission met with President Mahama; Vice-President Kwesi Amissah-Arthur; Dr Kwesi Botchwey, Chairman of the National Development Planning Commission; Finance Minister Seth Terkper; Bank of Ghana Governor Kofi Wampah; the Finance Committee of the Parliament, other senior officials, and representatives of the private sector, the donor community and civil society. Mr Toujas-Bernat� said �the mission in particular welcomes the government�s 2015 budget presented to Parliament on November 19, 2014, which targets a reduction of the fiscal deficit by 3.5% points of GDP (on a commitment basis).� With projected arrears repayments of 1.2% of GDP next year, the cash deficit will be equivalent to 6.5% of GDP in 2015, down from 9.5% in 2014, he said. According to him, the budget includes some important measures to increase revenues to eliminate distortive and inefficient energy subsidies, and to contain growth in Ghana�s comparatively high public wage bill. Mr Toujas-Bernat� stated that at the same time, the budget allows for maintaining public investment above 5% of GDP, as well as increasing social protection spending targeted at the most vulnerable. �The mission also welcomes the government�s aim to implement structural reforms to underpin a sustained consolidation towards a fiscal deficit objective of 3.5% of GDP by 2017. �Reforms will include strengthening public finance management, reducing tax exemptions, enhancing tax administration and reviewing the earmarking of revenues for statutory funds. �Efforts to clean up the payroll and enhance its management have been initiated and should be pursued swiftly. These efforts, together with the implementation of appropriate pay and hiring policies, will help further control the wage bill, which has been a significant source of fiscal risk. �Taken together, these fiscal measures, combined with sound debt management and actions to further boost the effectiveness of the Bank of Ghana�s inflation targeting framework, should help restore macroeconomic stability,� he said. Mr Toujas-Bernat� said following discussions held in Washington last month, Ghana continued to work on their economic and financial programme to address domestic and external vulnerabilities. He said Ghana and the mission made significant progress towards reaching understandings on strengthened macroeconomic policies, including on a medium-term fiscal path consistent with ensuring debt sustainability and reducing the external current account deficit.