Professor Peter Quartey, and Economist has stated that governments will not need to go back to the International Monetary Fund (IMF) for bailouts if the country manages its expenditures well.

According to Professor Quartey, when the revenues are and expenditures are spent within limits in 2020, which is in an election year, there will be no need for Ghana to return to IMF.

Some economists have pointed out that governments overspend in election years, creating economic difficulties that compel Ghana to go back to the IMF for a bailout.

He said, “The first thing is how do we manage our resources, our revenue especially. We need to grow the revenue base. At the moment we are always recording revenue shortfalls so what innovative thing can government use to raise revenue, be it from the informal sector or broadening the tax base”.He further added that it was time for Ghana to improve its tax collection to help spend in critical sectors of the economy.

“I believe tax efficiency is very key so that we stay focused so we don’t go back to the IMF or we don’t borrow and reach debt sustainable level”.

He was optimistic that if government follows such action, then the country will not hear of IMF any time soon.

“And then also our expenditure, I believe we spend but then we have to spend prudently. Where it is not necessary we need to cut on expenditure especially on the wage bill. We need to rationalize how much we are paying”.