Ghanaian President John Dramani Mahama on Tuesday pledged to use the opportunity to serve Ghana for the second time to ensure that the country does not return to the International Monetary Fund (IMF) again for support
Mahama said during the opening of the 77th Annual New Year School, an annual policy and governance conference organized by the University of Ghana, that his government would ensure lasting reforms in the economic and governance sectors.
“We want the current program with the IMF to be the country’s final bailout, as we work to build a strong and resilient economy that does not depend on external rescue packages,” Mahama pledged.
Despite the positive contributions of the IMF program to restoring the economic fortunes of the country, the president said Ghana must now focus on strengthening domestic revenue mobilization, restoring fiscal discipline, and rebuilding confidence in the financial sector.
“We cannot achieve economic resilience through austerity alone, but through production, inclusion, and shared prosperity,” he asserted.
He hinted that the West African country would exit the current IMF Extended Credit Facility–backed program by the middle of this year, with the hope never to return to the global lender again for financial support.
“I will make good use of this second mandate so graciously granted to me by Ghanaians by raising our economy and governance to a level that no succeeding government can reverse,” the president stated. Mahama reiterated the resolve of his government to maintain fiscal discipline and sound economic management throughout his tenure: “We shall not ease the current fiscal discipline and efficient management of the economy even in the election year of 2028.”
Source: Judah Adjei Mensah