Don’t extend IMF deal – Economist to govt

Economist and Professor at the University of Ghana Business School, Lord Mensah, has stated that Ghana’s economy is already on a positive growth path. He believes that with proper fiscal discipline, there will be no need to extend the country’s programme with the International Monetary Fund (IMF).

Prof. Mensah suggests that the government should be capable of managing the economy effectively without IMF support, while still ensuring the strong performance of key economic indicators.

When asked about the possibility of extending the IMF programme, he told Joy News, “We are already on a solid trajectory. I don’t expect any significant changes. The government has mentioned that it might request an extension, but I don’t think it will be necessary at this stage.”

He emphasized that if Ghana continues to follow the fiscal discipline instilled under the IMF programme, the country should be able to meet its targets and manage the economy in a way that benefits businesses, individuals, and the government.

Meanwhile, the Government of Ghana has been in talks with the IMF team led by Mission Chief for Ghana, Stephane Roudet. These discussions, which began on February 10, 2025, are expected to conclude on February 14, 2025. The talks are focused on Ghana’s progress under the IMF-supported programme, as well as the government’s policy direction for the 2025 Budget.

Key issues under discussion will include revenue administration reforms, energy sector reforms, expenditure rationalization, and monetary and exchange rate policies. Key institutions such as the Bank of Ghana, Ghana Revenue Authority, and the Controller and Accountant General Department will also participate in the meetings.

A statement from the Finance Ministry assured the public of the government’s commitment to prioritizing macroeconomic stability, job creation, and the improvement of living standards for Ghanaians.