The International Monetary Fund (IMF) has urged Ghana to maintain prudent economic policies and deepen governance reforms to safeguard macroeconomic stability and support inclusive growth, warning that the country remains exposed to both domestic and external vulnerabilities.
In a statement issued at the end of its engagement with Ghanaian authorities, the Fund noted that the country’s economic outlook continues to face risks from developments in the global economy, including volatility in commodity and oil prices, escalating geopolitical tensions, and tighter international financial conditions.
The IMF also highlighted several domestic challenges that could weigh on Ghana’s economic progress. These include substantial debt rollover obligations, fiscal pressures linked to the energy, cocoa and gold sectors, and lingering weaknesses within the financial sector.
According to the Fund, maintaining a prudent monetary policy stance, allowing greater flexibility in the exchange rate, strengthening foreign reserve buffers and building a sinking fund to meet future debt repayments will be critical to preserving economic stability.
The Washington-based institution further stressed the importance of strengthening governance frameworks to enhance public confidence and attract private sector investment.
“Strengthening governance remains a priority,” the IMF said, pointing to the need for the adoption of the Conduct of Public Officers Bill, publication of the second National Ethics and Anti-Corruption Action Plan, and stronger oversight of state-owned enterprises.
The Fund said these measures would help improve transparency and accountability while supporting long-term economic growth.
The IMF also commended Ghanaian authorities and stakeholders for their cooperation during the mission.
“The IMF remains a committed partner in Ghana’s efforts to preserve stability and achieve stronger, more inclusive, and job-rich growth,” the statement said.
The Fund’s remarks underscore the importance of sustaining ongoing reforms as Ghana seeks to consolidate recent gains in economic recovery while navigating persistent domestic and global uncertainties.
Source: businesspostonline
