President John Dramani Mahama has announced the conclusion of Ghana’s International Monetary Fund (IMF) programme, describing it as a significant step in the country’s economic recovery and transition toward a new phase of growth and investment.
According to the President, government is now moving into a new policy framework that will create room for increased investment in key sectors of the economy, including agriculture and industrial development.
President Mahama made the announcement during a meeting with members of the Northern Regional House of Chiefs at the Presidency.
“Today you’ve come at a very auspicious occasion because we’ve concluded the IMF programme,” he stated.
The President explained that Ghana will now transition into what he described as a Policy Coordination Instrument framework aimed at supporting long-term economic transformation.
“We’re moving into the policy coordinating instruments,” he said.
President Mahama disclosed that under the new arrangement, government intends to create fiscal space for strategic investments in priority sectors.
“In the policy coordinating instruments, we’re creating space for the investment of one percent of GDP in key areas,” he revealed.
He noted that one of the major sectors identified for investment is commercial agriculture, particularly in the Northern Region, which he described as central to Ghana’s agricultural transformation agenda.
“One of the areas that has been identified is commercial agriculture, and the Northern Region has vast arable lands to host large-scale agriculture,” the President said.
According to him, government plans to scale up support for farmers through mechanisation services, irrigation expansion, improved seed distribution and agri-business development.
President Mahama said the Northern Region is expected to become one of the main beneficiaries of the new investment strategy.
“And so the Northern Region will be one of the main beneficiaries, including agri-processing and agri-business,” he added.
The President stressed that the post-IMF phase will focus on boosting production, strengthening infrastructure and creating opportunities for economic growth across the country.
He further assured traditional authorities that government remains committed to inclusive development and stronger collaboration with local communities to drive national progress.
Source: Mubarak Yakubu
