Prime News Ghana

IMF boss congratulates Ghana’s new Finance Minister Amin Adam

By Vincent Ashitey
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The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva has congratulated Dr. Mohammed Amin Adam after his appointment as Minister of Finance.

Georgieva also assured the Finance Minister of her full cooperation to ensure the full implementation of Ghana’s current US$3 billion bailout.

“Your leadership will be essential in sustaining Ghana’s reform effort and in further extending the current momentum of compelling programme performance and gradual economic stabilization. I would like to extend my warmest congratulations on your appointment as Ghana’s Minister of Finance”, she said.

“I would like to assure you of the International Monetary Fund’s continued commitment to support you in these endeavors. Please accept my very best wishes of success in your new role at a critical moment in Ghana’s history”, it added.

Meanwhile, Amin Adam pledged on Thursday, February 15 to keep the US$3 billion International Monetary Fund (IMF) programme on track as the country aims to finish restructuring its overseas debt before the December elections.

President Akufo-Addo replaced Ken Ofori-Atta with Adam, a petroleum economist who was minister of state at the finance ministry.

Ofori-Atta led the negotiation of the US$3 IMF programme.

He was, alongside Adam, seeking relief on about US$13 billion owed to private bondholders when he was removed.

“There will not be any delays in the ongoing debt negotiations with bondholders because I have been part of the process,” Adam told Reuters in a telephone interview.

“The advisers remain the same and the targets have not changed,” he said, noting that he was involved in talks from the start.

“There will be no reversal on the IMF programme of fiscal consolidation. Revenue mobilisation will be aggressive, backed by new reforms at the Ghana Revenue Authority,” Adam said.

He also said spending would be efficient and directly benefit Ghanaians.

“I am a pro-reform person,” Adam said. “And therefore strongly support the structural benchmarks under the IMF programme”.