Economist Questions Ghana’s Return to IMF Programme, Calls Policy Move “Premature”
By Maurice Otoo
Economist Nana Ayimadu Bekoe has raised concerns about the Government of Ghana’s decision to approach the International Monetary Fund (IMF) for a Policy Coordination Instrument (PCI), calling the move premature and restrictive to the country’s economic growth ambitions.
Speaking on the state of Ghana’s economy in a Zoom interview on the Kessben Maakye show in Accra, the economist argued that IMF-backed policies often come with limitations that make it difficult for governments to pursue bold economic transformation.
According to him, “when IMF policies are in town, they restrict you and would not allow you to make a quantum leap,” stressing that the country needed more room to grow its economy independently before returning to another IMF-supported framework.
Nana Ayimadu Bekoe said the Finance Minister had made it clear that the government was pursuing the IMF Policy Coordination Instrument, but insisted Ghana should have allowed the economy to “breathe for a while” before adopting such a policy direction.
He further argued that Ghana should have had enough confidence in its own economic management systems to engage the market without once again relying on IMF intervention.
“We should have survived for about five years without IMF intervention,” he stated, adding that the narrative suggesting that geopolitical pressures forced Ghana into the IMF program should be dismissed.
The economist’s comments add to the growing national debate over Ghana’s continued engagement with the IMF and whether the program offers long-term economic stability or limits independent policy innovation.
