Ghana focussing on "home-grown" strategy to tackle fiscal crisis -president

President Mahama

Ghana's President John Mahama said on Tuesday he had not decided on whether his country should enter an assistance programme with the International Monetary Fund but the government was for now concentrating on a "home-grown" fiscal strategy.
Bolstered by relatively stable politics and exports of cocoa, gold and oil, Ghana has emerged in recent years as one of Africa's brightest economic prospects. However, it is grappling high inflation, a sliding currency and a budget deficit.
Ghana and the IMF were due to discuss possible assistance at talks in Washington last month but Mahama said no decision had been taken to enter a programme.
"What we are concentrating on is the preparation of a home-grown strategy of fiscal consolidation. It is our expectation that both our domestic and international partners will join us in the implementation of this strategy," he said.
Ghana ended its last three-year, $600 million IMF programme in 2011.