Ghana Macroeconomic Efficiency Improving

The IMF country representative to Ghana, Natalia Koliadina has said the ongoing IMF program with Ghana is improving macroeconomic efficiency. The three-year extended credit facility arrangement with Ghana has so far been opposed by sections of civil society organizations who say it is time Ghana pulls out of the program, Myjoyonline reported. Koliadina believes active debt management and ambitious fiscal consolidation under the ECF-supported program have already started to show. “We see the debt has started declining, inflation is subsiding, monetary policy has been adequately tight and lending rate started to subside,” she said. Meanwhile, economist, Professor Godfred Bokpin argues that the efficiency of the IMF’s extended credit facility arrangement with Ghana will be indicated in the overall performance of the economy. “What is on the table now is how we see Ghana’s macroeconomic outlook after the program. If you look at the macro level statistics it looks like we have made some progress. Not exactly what we are supposed to be but certain progress has been made.”