Dr. Vladimir Antwi-Danso, a Senior Fellow at the Institute of Economic Affairs (IEA), has urged President John Mahama to act decisively to avoid another IMF bailout after the current programme ends.
He believes Ghana’s repeated return to the IMF stems from excessive government spending, especially during election periods.
“If this is truly a legacy term, then the President must correct the cycle of overspending,” he said. “This is Ghana’s 17th IMF programme, and we risk continuing the pattern unless real change happens.”
Dr. Antwi-Danso criticized election-year expenditures, which he said do not support economic growth. “During elections, we spend recklessly. The funds don’t generate returns, they only support consumption. We borrow, but we don’t invest,” he stated.
He urged the administration to enforce strict fiscal discipline and launch structural reforms to strengthen economic governance and reduce external dependence.
Ghana is currently in a $3 billion IMF programme aimed at restoring macroeconomic stability and managing debt. The programme is set to end next year.
Meanwhile, some experts, including Deloitte Ghana’s Country Managing Partner Daniel Kwadwo Owusu, have proposed extending the deal to consolidate progress.
