Utility tariff hikes are part of IMF program requirements – Finance minister explains
Finance Minister clarifies that recent utility price increases are linked to Ghana’s commitments under the ongoing IMF bailout program.
Ghana’s Finance Minister has clarified that the recent hikes in electricity and water tariffs are directly tied to the government’s ongoing agreement with the International Monetary Fund (IMF).
Speaking to journalists, the minister explained that under the current $3 billion IMF-supported program, Ghana is expected to implement a series of economic reforms aimed at restoring fiscal stability. Among these, the adjustment of utility tariffs is a key condition to ensure cost recovery in the energy sector.
“These tariff adjustments are not arbitrary,” the minister stated. “They are part of a broader structural reform strategy under the IMF program to strengthen the energy sector and reduce subsidies.”
He assured the public that the government is taking steps to minimize the impact of these changes on vulnerable groups, including targeted relief initiatives.
The minister also emphasized the importance of long-term sustainability, adding that failing to implement the required reforms would compromise future financial stability and investor confidence.
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