AGI warns Ghana’s economic gains may face strain after IMF programme ends
Ghana’s recent economic stability and rising investor confidence could face challenges after the country exits its programme with the International Monetary Fund, the Association of Ghana Industries (AGI) has warned.
Although there have been notable improvements in fiscal management and renewed optimism in the market, concerns remain about the sustainability of these gains without continued IMF support.
The AGI noted that the IMF programme has been instrumental in restoring credibility and boosting investor confidence, raising questions about how market sentiment may shift once the programme ends.
Industry leaders are therefore urging government to maintain policy discipline and consistency to preserve the progress made, cautioning against complacency that could undermine the gains achieved so far.
“We’ve gained so much confidence in the system. We’ve encouraged people to invest now. The government has done very well in managing the economy in a very prudent manner. That has brought confidence. If the IMF exits, what is the implication?” AGI Chief Executive Officer Seth Twum-Akoaboah questioned.
Beyond macroeconomic concerns, the AGI emphasised the need to strengthen domestic production to reduce dependence on imports, which continue to leave the economy vulnerable to external shocks. Expanding local industry, it said, would be crucial for long-term resilience.
Speaking on Channel One TV on Monday, April 27, Mr. Twum-Akoaboah also highlighted ongoing challenges in accessing affordable financing. He called on institutions such as the Ghana EXIM Bank, Development Bank Ghana and the National Investment Bank to prioritise lending to productive sectors.
He further urged a reduction in interest rates to support industrial growth and sustain the country’s economic recovery.
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