Economist Dr. John Kwakye advises President-elect John Mahama to review Ghana’s IMF programme to boost investor confidence in the Cedi and local economy.
Economist and Director of Research at the Institute of Economic Affairs (IEA), Dr. John Kwakye has advised newly elected President of Ghana, John Dramani Mahama, to review the country’s ongoing programme with the International Monetary Fund (IMF).
Dr. Kwakye believes that such a review will bolster investor confidence in the Cedi and the local economy.
In a post on his X page, Dr. Kwakye stated, “To strengthen investor confidence in the cedi and economy, President Mahama should constitute a team to review the IMF program. President Mahama should also constitute an Economic Advisory Council (EAC) of independent professionals to advise him on the economy.”
Dr. Kwakye’s suggestion comes despite recent comments from the IMF, which noted that Ghana had made progress in strengthening its fiscal position ahead of the general elections on Saturday, December 7. The IMF emphasized the importance of maintaining fiscal policy adjustments before and after the elections to ensure public finances are on a sustainable path and to reduce financing needs while cushioning the vulnerable from the impact of fiscal adjustments.
The IMF highlighted the need for continued efforts to enhance domestic revenue mobilization andhe IMF highlighted the need for continued efforts to enhance domestic revenue mobilization and streamline primary expenditure. These efforts should be supported by improvements in tax administration, strengthening expenditure control and management of arrears, implementing an enhanced fiscal responsibility framework, and improving the management of State-Owned Enterprises (SOEs).
