Dr Cassiel Ato Forson, Ghana’s Finance minister welcomed the US Ambassador to Ghana, Virginia Palmer, to the Ministry of Finance on Tuesday morning.
The minister expressed his deep gratitude to the United States for its steadfast support over the years, particularly in 2022, when Ghana faced one of its most challenging economic periods.
“While we have encountered some setbacks in the implementation of our IMF program, we remain committed to making the necessary adjustments this year, he stressed.
Dr Ato Forson assured the Ambassador that Ghana is fully aware of the outstanding arrears to Independent Power Producers (IPPs) and that decisive steps are being taken to address them.
“We have also successfully streamlined the implementation of the Cash Waterfall Mechanism, ensuring that arrears will no longer accumulate.
Additionally, we are in the process of renegotiating power purchase agreements, which will be submitted to Parliament for approval” according to the minister.
The Minister added that “We recognize the need for urgent financial reforms, and we remain focused on implementing the necessary measures to stabilize our economy and secure a sustainable future for our people”.
However, Ambassador Palmer congratulated the minister on his appointment and commended his recent address at the Economic Dialogue, describing it as the most candid speech she has heard from a Finance Minister in the last forty years.
She also welcomed Ghana’s commitment to settling payments owed to US companies.
This meeting reinforced the strong partnership between Ghana and the United States.
Source:Mybrytfmonline.com/Kwabena Nyarko Abronoma
