The International Monetary Fund (IMF) has cautioned that Ghana must maintain strict fiscal discipline and strengthen its budget management framework as significant debt obligations and sector-specific pressures continue to pose risks to economic stability.
In its latest assessment, the Fund highlighted substantial domestic debt rollover requirements and fiscal pressures arising from the energy, cocoa and gold sectors as key challenges that could strain government finances if not carefully managed.
The IMF said building a sinking fund to meet maturing debt repayments should remain a priority, alongside efforts to strengthen foreign exchange reserves and preserve macroeconomic stability through prudent monetary policies and greater exchange rate flexibility.
The warning comes as Ghana seeks to sustain gains made under ongoing economic reforms while navigating a challenging global environment marked by volatile commodity and oil prices, geopolitical uncertainties and tighter international financial conditions.
Beyond fiscal concerns, the Fund stressed the importance of governance reforms in supporting budget credibility and investor confidence.
It cited the proposed Conduct of Public Officers Bill, the second National Ethics and Anti-Corruption Action Plan, and stronger oversight of state-owned enterprises as measures that could improve accountability in the management of public resources.
According to the IMF, stronger governance and prudent fiscal management will be critical in protecting recent economic gains and creating the conditions for sustainable, inclusive and job-rich growth.
The Fund reaffirmed its support for Ghana’s reform agenda, describing itself as a committed partner in the country’s efforts to safeguard stability and strengthen economic resilience.
Source: businesspostonline
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