A Senior Fellow at the Institute of Economic Affairs (IEA), Dr. Vladimir Antwi-Danso, has called on President John Mahama to implement decisive economic reforms to prevent Ghana from returning to the International Monetary Fund (IMF) once the current programme ends.

According to Dr. Antwi-Danso, Ghana’s recurring reliance on IMF assistance—now in its 17th programme—is largely driven by unsustainable fiscal practices, particularly excessive government spending during election years.

“The president has indicated this is a legacy term. If that’s the case, then bold corrective action is needed to ensure we don’t return to the IMF,” he said. “Every election year, we go on a spending spree, and the expenditures are not growth-oriented. We borrow, but it’s for consumption, not investment.”

He warned that this pattern of unproductive spending only deepens the country’s fiscal vulnerabilities and undermines long-term economic stability.

Dr. Antwi-Danso stressed the importance of enforcing fiscal discipline and prioritizing structural reforms that promote sustainable growth and strengthen economic governance.

Ghana is currently under a $3 billion IMF-backed programme designed to restore macroeconomic stability and ensure debt sustainability. The programme, which began in 2023, is set to conclude in 2026.

While the government aims to exit the programme as scheduled, some experts believe a longer timeline may be necessary. Among them is Daniel Kwadwo Owusu, Country Managing Partner at Deloitte Ghana, who has proposed extending the programme by one to two years to consolidate recent economic gains.

As the debate continues, Dr. Antwi-Danso insists that Ghana’s best chance at long-term economic resilience lies in reducing external dependency through responsible governance and homegrown solutions.