https://en.sputniknews.africa/20250113/ghana-reduces-number-of-ministries-to-save-funds-under-imf-austerity-program-1070162130.html
Ghana Reduces Number of Ministries to Save Funds Under IMF Austerity Program
Ghana Reduces Number of Ministries to Save Funds Under IMF Austerity Program
Sputnik Africa
President Mahama, elected last month with a strong mandate amid public frustration over economic hardship, has vowed to stabilize the economy and address... 13.01.2025, Sputnik Africa
2025-01-13T15:37+0100
2025-01-13T15:37+0100
2025-01-13T15:37+0100
ghana
sub-saharan africa
west africa
economy
john mahama
international monetary fund (imf)
debt
reforms
economic growth
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Ghana’s President John Mahama has reduced the number of government ministries from 30 to 23 as part of efforts to streamline operations and reduce costs under the International Monetary Fund’s (IMF) austerity program, according to a government gazette.The retained ministries include key sectors such as finance, health, interior, defense, education, energy and green transition, roads and highways, and transport. The restructuring is part of broader reforms tied to the $3 billion IMF bailout Ghana secured in 2022 to address its inability to service debt.Last week, Bloomberg reported that Ghana's stock market, which outperformed all other African markets last year, is expected to maintain its strong growth into 2025. Investors are hopeful that Mahama's newly elected administration will stabilize the economy and foster a business-friendly environment.Ghana’s economy demonstrated substantial recovery throughout 2024, with an average growth rate of 6.3% over the first nine months, a notable improvement from the previous year's 2.6%.
https://en.sputniknews.africa/20250104/ghana-avoids-government-shutdown-with-provisional-budget-approval-1070031558.html
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ghana, west africa, economy, john mahama, international monetary fund (imf), debt, reforms, economic growth
ghana, west africa, economy, john mahama, international monetary fund (imf), debt, reforms, economic growth
Ghana Reduces Number of Ministries to Save Funds Under IMF Austerity Program
Christina Glazkova
Writer / Editor
President Mahama, elected last month with a strong mandate amid public frustration over economic hardship, has vowed to stabilize the economy and address challenges such as high debt levels, unemployment, and rising living costs.
Ghana’s President John Mahama has reduced the number of
government ministries from 30 to 23 as part of efforts to streamline operations and reduce costs under the International Monetary Fund’s (IMF) austerity program, according to a government gazette.
The retained ministries include key sectors such as finance, health, interior, defense, education, energy and green transition, roads and highways, and transport. The restructuring is part of broader reforms tied to the $3 billion IMF bailout
Ghana secured in 2022 to address its inability to service debt.
Last week, Bloomberg reported that Ghana's stock market, which outperformed all other African markets last year, is expected to maintain its strong growth into 2025. Investors are hopeful that Mahama's newly elected administration will stabilize the economy and foster a business-friendly environment.
Ghana’s economy demonstrated substantial recovery throughout 2024, with an average growth rate of 6.3% over the first nine months, a notable improvement from the previous year's 2.6%.
