A Senior Fellow at the Institute of Economic Affairs (IEA), Dr. Vladimir Antwi-Danso has called on President John Mahama to implement bold and corrective economic measures to prevent Ghana from re-entering an International Monetary Fund (IMF) programme when the current one ends.
According to Dr. Antwi-Danso, Ghana’s recurring dependence on the IMF is largely driven by excessive government spending, particularly during election years, which erodes fiscal discipline and contributes to economic instability.
He noted that much of this spending is not directed toward growth-oriented investments, cautioning that borrowing to fund consumption rather than development only exacerbates the country’s financial challenges.
Dr. Antwi-Danso urged the Mahama administration to enforce strict fiscal discipline and carry out structural reforms to enhance economic governance and reduce the nation’s reliance on external financial assistance.
Ghana is presently undertaking a $3 billion IMF-supported programme aimed at restoring macroeconomic stability and achieving long-term debt sustainability. The programme is expected to conclude next year.
However, some experts, including Deloitte Ghana’s Country Managing Partner, Daniel Kwadwo Owusu, have suggested a one- to two-year extension to consolidate the gains achieved so far.
