The Progressive Youth Alliance (PYA), led by Conveners Nana Barimah Asamoah and Nana Takyi, has commended the Minister for Finance for what it describes as a disciplined and strategic approach to economic management that contributed to Ghana’s successful exit from the International Monetary Fund (IMF) bailout programme.
Ghana officially exited the IMF programme after 17 months, a development supporters say reflects the impact of sustained fiscal reforms and tighter public expenditure controls introduced under the current administration.
According to the group, the reduction in the size of government and the enforcement of strict commitment controls played a key role in improving fiscal discipline and reducing pressure on the national budget.
They further pointed to reforms in tax administration, petroleum revenue management, and mining royalties as measures that helped strengthen domestic revenue mobilisation and support economic stability.
A central reform highlighted by the PYA is the Certificate of Authorisation (CoA) policy, which requires all Ministries, Departments, and Agencies to obtain prior approval from the Ministry of Finance before committing public funds.
The group said the policy has helped curb unauthorised spending, reduce the accumulation of arrears, and strengthen overall control of government expenditure.
They also praised the establishment of the Value for Money Office (VfMO), which is responsible for scrutinising government contracts to ensure efficiency, transparency, and value in public spending.
According to the PYA, the initiative has improved oversight of procurement processes and helped address concerns about inflated contracts and wasteful expenditure.
Another key reform highlighted is the Commitment Control Compliance League Table, which ranks public institutions based on their adherence to financial management rules and expenditure regulations.
The group noted that the system has encouraged greater accountability across Ministries, Departments, and Agencies and promoted a culture of compliance within the public sector.
The PYA stated that these combined reforms reflect a renewed commitment to fiscal responsibility and have strengthened confidence in Ghana’s economic management framework.
With the IMF programme concluded, the group urged continued focus on sustaining macroeconomic stability, expanding job opportunities, and supporting private sector growth, particularly for young people and local businesses.
Read the official statement below!
PROGRESSIVE YOUTH ALLIANCE – GHANA
PRESS RELEASE — 18/05/2026
Ghana Exits IMF: Dr. Cassiel Ato Forson Deserves a Standing Ovation for Remaining Steadfast in Defending President Mahama’s Legacy
Ghana’s exit from the IMF bailout programme after just 17 months under President Mahama’s administration is not by chance. It is the result of unprecedented fiscal discipline and structured policy reforms under the ingenious leadership of Dr. Cassiel Ato Forson at the Ministry of Finance.
The bold decision to reduce the size of government from the onset, enforce mandatory commitment controls, uncap statutory funds to align with national priorities, reform tax administration, regulate petroleum and mining royalties, and establish the Gold Board to properly regulate the domestic gold purchasing regime, alongside other prudent fiscal reforms, all contributed significantly to Ghana’s rapid economic recovery and successful completion of the IMF bailout programme.
The recent introduction of the Certificate of Authorisation (CoA) policy remains one of the most decisive fiscal control measures in recent Ghanaian history. By ensuring that no Ministry, Department, or Agency commits the state financially without prior approval from the Ministry of Finance, Dr. Ato Forson has demonstrated an uncompromising commitment to expenditure discipline. This policy is critical in preventing unauthorised spending, reducing judgment debts, and protecting the public purse from abuse.
Equally commendable is the establishment of the Value for Money Office (VfMO), an initiative aimed at scrutinising government contracts and ensuring that every pesewa spent by the state delivers real value to the Ghanaian people. This intervention is a major step toward eliminating inflated contracts, procurement irregularities, and wasteful expenditure that have burdened the nation for years. It reflects a leadership style grounded in accountability, efficiency, and patriotism.
Another remarkable initiative is the Commitment Control Compliance League Table, which promotes strict adherence to public financial management regulations among state institutions. By introducing a monitoring and ranking mechanism, the Finance Minister has created a culture of responsibility and compliance within the public sector. This innovation alone signals a new era of seriousness in Ghana’s financial governance architecture.
These reforms collectively position Dr. Cassiel Ato Forson as one of the most prudent, disciplined, and reform-oriented Finance Ministers Ghana has witnessed in recent times. His policies are not merely political slogans; they are practical governance tools designed to safeguard national resources, restore investor confidence, and build a sustainable economic future for generations yet unborn.
As Ghana exits the IMF programme, the economy is expected to experience renewed growth and expansion, creating more jobs through increased investment in agriculture, industry, infrastructure, technology, and the private sector. With the removal of IMF conditionalities, the government will have greater flexibility to support local businesses, attract investors, and stimulate sustainable employment opportunities for the youth.
Indeed, history will remember Dr. Cassiel Ato Forson as a Finance Minister who chose fiscal discipline over recklessness, accountability over waste, and national interest over political convenience.
Signed:
Nana Barimah Asamoah (Convener)
Contact: 0551111981
Nana Takyi (Convener)
Contact: 0546572070
