The International Monetary Fund (IMF) has warned that Ghana’s economic gains under the Extended Credit Facility (ECF) program remain fragile and need to be consolidated through sustained efforts.

The warning follows the country’s efforts to implement crucial reforms to restore macroeconomic stability and address fiscal challenges.

The IMF noted that although some progress has been made in stabilizing Ghana’s economic situation, economygains are subject to external shocks, delays in policy implementation and unresolved structural weaknesses.

The IMF said Ghana should maintain fiscal discipline, improve revenue mobilization and ensure timely implementation of reforms to solidify its recovery process.

He also advised Ghana to adopt a prudent monetary policy and improve its foreign exchange market operations to help reduce inflation and replenish international reserves.

At the same time, the Fund advocated for the creation of social interventions aimed at protecting vulnerable people from the impact of adjustment and reforms aimed at ensuring an inclusive economic recovery.

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The IMF warned that delays in securing key financing from the World Bank and other donor programs could harm the country’s efforts to stabilize its fiscal landscape.

The Fund said timely disbursement of funds and strict adherence to policy measures aimed at addressing the country’s debt vulnerabilities and improving economic resilience would help support Ghana’s economic reform agenda.

The Fund said Ghana must remain committed to its reform agenda and ensure strong collaboration between policymakers, parliament and stakeholders to ensure the success of the agenda.

Source: YEN.com.gh