Dr. Vladimir Antwi-Danso, a Senior Fellow at the Institute of Economic Affairs (IEA), has called on President John Mahama to implement bold measures to prevent Ghana from returning to the International Monetary Fund (IMF) after the current program concludes.
Excessive Spending Cited as Key Issue
Dr. Antwi-Danso attributed Ghana’s repeated reliance on the IMF to excessive government spending, particularly during election years, which undermines fiscal discipline and fuels economic instability. He emphasized the need for growth-oriented spending and structural reforms to strengthen economic governance.
Call for Fiscal Discipline
The IEA fellow urged the Mahama administration to enforce strict fiscal discipline and pursue reforms that would reduce dependency on external support. Ghana is currently implementing a $3 billion IMF-supported program aimed at restoring macroeconomic stability and achieving debt sustainability.
Alternative Views on IMF Program
Some experts, including Daniel Kwadwo Owusu, Country Managing Partner of Deloitte Ghana, have suggested extending the IMF program by one or two years to consolidate economic gains.
However, Dr. Antwi-Danso believes that President Mahama should prioritize measures to ensure Ghana’s economic stability and avoid returning to the IMF.
