A Ghanaian financial analyst, Toma Amihere has warned that Ghana remains economically vulnerable despite the government’s decision to transition away from its financial bailout arrangement with the International Monetary Fund.
The comments came after the Ghanaian government announced the successful conclusion of its $3 billion Extended Credit Facility programme with the IMF, signalling an end to the country’s financial bailout phase and a move toward a non-financial policy support arrangement.
Toma Amihere said the country’s economic recovery remained fragile, citing looming debt repayments between 2027 and 2030, continued pressure on the cedi and exposure to global inflationary trends.
“No, we are not squeaky clean. We’re better than we were about three or four months ago. But squeaky clean, no,” Amihere said on Channel One TV’s The Big Issue programme on Saturday.
“We have lots of debts falling due from 2027 to 2030, so we have to deal with them,” he added.
Amihere said Ghana remained heavily dependent on imports despite economic gains recorded over the past year and a half, warning that external inflationary pressures could still affect the country’s recovery.
“There’s still pressure on the cedi. Because with all we have achieved in the past one and a half years, we are still as import-dependent as we were,” he said.
“Inflation is down, but there are inflationary pressures from the global economy, which we hope will be temporary. The recovery we’re experiencing is fragile. We have a long way to go.”
The government said the conclusion of the IMF-supported programme reflected restored macroeconomic stability and progress toward debt sustainability ahead of schedule.
In a statement, Presidential Spokesperson and Minister for Government Communications Felix Kwakye Ofosu attributed the economic turnaround to fiscal consolidation measures, expenditure cuts and structural reforms introduced after setbacks at the end of 2024.
The statement said the administration of President John Dramani Mahama implemented frontloaded fiscal reforms aimed at restoring investor confidence and stabilising the economy.
Amihere, however, cautioned that Ghana’s history of recurring economic crises showed the need for sustained fiscal discipline and long-term structural reforms.
source:citinewsroom
