Fiscal policy analyst predicts Ghana’s return to the IMF in 2027
Fiscal Policy Analyst, Dr Alex Ampaabeng, has predicted Ghana’s return to the IMF in 2027, the following year after its exit from the new IMF programme in 2026.
His prediction, is based on what on he says is a ‘lack of expenditure controls’ on government in the IMF programme, also affirming the high revenue-weighted nature of the programme.
“We could probably be back to the IMF by 2027 given the lack of controls on expenditure in IMF programme,” he quipped speaking on NorvanReports’ Twitter Space Conversation themed “Unpacking the IMF Approval and its Effects on the Economy”.
His prediction of Ghana returning to the IMF was supported by Professor Lord Mensah as well as Economist and Political Risk Analyst, Theo Acheampong.
According to Dr Ampaabeng, economic challenges identified by the IMF that form the basis of the new programme are not new to the economy, asserting that solutions to these challenges have consistently been proferred to government but government fails to listen.
“If we had a listening government we wouldn’t be here today, there is nothing new or out of the blue in the IMF programme on which we haven’t advised the government. Is it on expenditure rationalisation, revenue collection efficiency, SOE performance, fiscal discipline, tax exemptions, you name it,” he remarked.
Speaking further during the discussion, Dr Ampaabeng bemoaned the inefficiency of government’s flagship programmes that were to reform the fundamentals of the economy and ultimately ensure macroeconomic stability.
“All the flagship programmes that were to aid economic growth have failed us, I am yet to see any flagship programme that has been largely successful, the planting for food and jobs for instance has not been able to deal with the issue of food importation,” he quipped.
According to him, Ghanaians should brace for difficult times ahead with the implementation of the IMF programme given the expected increases in taxes.
