Ghana’s economy is on an upward trajectory, and Professor Lord Mensah of the University of Ghana Business School believes that, with proper fiscal discipline, the country can manage without an extended International Monetary Fund programme.
Speaking to Joy News, Professor Mensah noted that the nation’s current momentum leaves little room for drastic changes, suggesting that continued adherence to fiscal discipline could see Ghana meeting its targets post-IMF support.
“We are already on a certain trajectory,” he said, adding that if the government remains disciplined, the economy will perform in ways that benefit businesses, individuals, and state institutions alike. His remarks come at a time when discussions between the government and the IMF, led by Mission Chief Stephane Roudet, are underway. The talks, scheduled from February 10 to 14, 2025, focus on Ghana’s progress under the IMF programme and the policy direction for the 2025 budget.
The meeting will also tackle key issues such as revenue administration reforms, energy sector restructuring, expenditure rationalisation, and monetary and exchange rate policy. Representatives from the Bank of Ghana, the Ghana Revenue Authority, and other key institutions are expected to contribute, reflecting the significance of the discussions on the country’s economic future.
Critics of extended reliance on IMF support argue that continued dependence could undermine the nation’s self-sufficiency. Professor Mensah’s stance serves as a reminder that sustainable economic progress often hinges on strong domestic policies rather than perpetual external assistance. In a climate where debates about governance and fiscal responsibility are intensifying, his comments add a measured perspective that champions internal resilience.
With the government committed to macroeconomic stability, job creation, and improved livelihoods, many view this approach as a refreshing call to prioritize self-reliance. As the IMF discussions unfold, Ghana’s path forward will be closely watched by both supporters and critics of the current economic strategy.
