The Country Managing Partner of Deloitte Ghana, Daniel Kwadwo Owusu, has urged the government to extend its current IMF programme. He made this appeal at the 9th Ghana CEO Summit.
Ghana entered a $3 billion bailout programme with the IMF in May 2023. The deal, set to end in June 2026, has reportedly improved fiscal discipline and boosted investor confidence. “The programme has brought fiscal discipline, which we haven’t done well without the IMF,” Owusu said.
Ghana’s economy grew by 5.7% in 2024, led by the mining and quarrying sector. According to Owusu, this shows the economy is recovering and can benefit more from an extended programme.
He added that the country must use this opportunity to restructure the economy, create decent jobs, and reduce dependence on foreign aid.
Mr. Owusu backed the President’s call for a national reset. He warned that the country’s heavy reliance on the services sector limits job creation, especially for over 150,000 graduates entering the labour market each year.
He urged the government to prioritize key agricultural programmes in the 2025 Budget, such as Feed Ghana and Feed the Industry. These, he said, will help reduce food inflation and support manufacturing.
He also raised concerns about external debt servicing, which will begin in May 2026. This, he said, could affect the country’s foreign reserves and put pressure on the cedi. “We must continue to build reserves and diversify exports beyond cocoa,” he advised, suggesting cash crops like oil palm, rubber, and cashew.
He concluded by stressing that sustained cedi stability and improved supply chains would help bring inflation down toward the 11.9% year-end target.
