The International Monetary Fund (IMF) has thrown its weight behind Ghana’s Minister of Finance, Dr Cassiel Ato Forson, supporting his assertion that persistent inefficiencies in Ghana's energy sector represent the most significant threat to its economic stability.

Speaking to Ghanaian journalists during the IMF Spring Meetings in Washington, DC, the IMF Mission Chief for Ghana, Stéphane Roudet, reiterated the fund's longstanding concerns over financial imbalances within the sector.

He emphasised that reforming the energy sector remains a central pillar of the IMF-supported economic program with Ghana.

Roudet highlighted a key issue undermining stability, citing the persistent gap between the amount of money collected by the Electricity Company of Ghana (ECG) and the actual cost of generating electricity.

“We knew from the beginning of the program that there were challenges related to the energy sector. The main challenge is the large difference between what ECG collects in terms of bills and the costs incurred in the sector. This is what we refer to as the energy sector shortfall,” Roudet said.

Despite these challenges, Roudet expressed confidence in the government’s commitment to meeting the program’s reform targets, describing their efforts as forward-looking and essential to ensuring long-term economic resilience.

SP/AE

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