Ghana Must Chart Its Own Sustainable Economic Future – IMF

Washington: The International Monetary Fund (IMF) has emphasized that Ghana's sustainable economic future relies on the government, its people, and civil society, rather than being predominantly dependent on external support. According to Ghana News Agency, the Fund acknowledged the role of external support, especially during crises like the implementation of the three-year US$3 billion loan-supported programme. However, it noted that sustaining gains after such interventions is a responsibility for the country itself. Abebe Aemro Selassie, Director of the IMF African Department, made these remarks during the Regional Economic Outlook press briefing at the 2026 IMF/World Bank Group Spring Meetings in Washington. When asked about Ghana's future following the Extended Credit Facility (ECF), Mr. Selassie highlighted the importance of sustaining government commitments under the programme in the post-programme period. He stated that maintaining fiscal balance is crucial for the country to avoid debt sustainabil ity challenges while addressing development needs. Dr. Cassiel Ato Baah Forson, Ghana's Finance Minister, assured international investors that the government is committed to deepening structural reforms, maintaining fiscal discipline, and prioritizing productive investments. He explained that the gains achieved in 2025 were the result of carefully designed policy interventions and legislative reforms. Moving forward, the government aims to consolidate these gains and build a more resilient and inclusive economy. Dr. Forson elaborated on government efforts to cut waste, including reducing the number of ministers and implementing mandatory commitment authorizations across various ministries to strengthen expenditure controls. He emphasized the importance of fiscal discipline and accountability, supported by oversight institutions like the Independent Fiscal Council and the Office of Value for Money. In a related development, the World Bank praised Ghana's macroeconomic stabilization efforts and expressed its readiness to support initiatives aligned with the country's long-term growth agenda. Ousmane Diagana, World Bank Vice President for Western and Central Africa, stated that the Bank would focus on supporting Ghana's energy and agriculture sectors under the new Country Partnership Framework, emphasizing the need for sustainability in reforms to deliver tangible benefits.