Accra — Ghana’s new government plans to review its $918m programme with the International Monetary Fund (IMF) because it may need more money for its spending plans, a minister designate said on Friday. The three-year programme, signed by the previous government in April 2015, imposes strict targets for revenue collection and spending. It aims to reduce inflation, the public debt and the budget deficit, and restore rapid growth to Ghana’s economy. President Nana Akufo-Addo won December’s election in part by promising voters he would give $1m to each constituency every year for development, build a dam in every village and a factory in every district. "It [the IMF programme] ... will certainly be reviewed," minister designate Yaw Osafo-Maafo told a parliamentary committee vetting his appointment as senior minister. "The current programme ... squeezes the fiscal space, and from the point of view of the New Patriotic Party (NPP), the IMF programme must be reviewed," he said. The NPP has...
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