Mr John Lipsky, the deputy Managing Director of the International Monitory Fund (IMF), has urged the government of Ghana to remain committed to its macro-economic stabilization to ensure that the country reaches a middle-income status by 2015.
According to him, Ghanaï¿½s economy would be put on a sound footing if government agencies are able to spend within their annual budgetary allocation.
The deputy IMF boss said this when he addressed journalists recently in Accra on measures the IMF was employing to put Ghanaï¿½s economy on track. Lauding the NDC government for trying to address the myriad of challenges bedeviling the economy, Mr Lipsky gave the assurance that the IMF will continue to support Ghanaï¿½s economy.
ï¿½The IMF stands ready to support Ghana in her effort to meet the recent macro and micro-economic challenges. We hope to collaborate with the present government and possibly offer free financial advice when there is the need for us to do so,ï¿½ Mr Lipsky assured.
He revealed that the executive board of the IMF will soon approve a new PRGF support programme, which according to him, would amount to $602.2 in July to help reduce Ghanaï¿½s budget deficit.
ï¿½In addition, Ghana will receive an amount of $450 million which will help support Ghanaï¿½s international reserve. By so doing your economy (Ghana) would improve drastically,ï¿½ he said.
He disclosed that Ghana has been selected to host this yearï¿½s 2nd AFRITAC West conference, which will bring together more than 100 countries to discuss trade-related issues.
He added ï¿½This conference will also allow Ghana and five African countries including Nigeria, Liberia, Sierra Leone, Cape Verde and Gambia to benefit from a multi-million fund that will help reduce poverty in these countries.
According to him, Ghana hosting the event will serve as a shining example on the African continent as the country that adopts best practices in handling its economy.
Against this background, Mr Lipsky emphasized that the freeze on employment in the public sector in the country will help the government achieve success in diverse ways. Later Mr Lipsky paid a courtesy call on President John Evans Atta Mills at the Osu Castle in Accra.
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