• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Ghana’s Early Exit From IMF Programme Could Destabilize Economy – Experts Say

6 months ago
in Business, Features, highlights, Home, home-news, latest News
2 min read
0 0
0
424
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

Multichoice Rebuffs Minister’s Claim On DSTV Price Cuts, Cites Market Conditions

MTN Nigeria Now the Most Capitalized Stock in Nigeria

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

Ghana’s Early Exit From IMF Programme Could Destabilize Economy – Experts Say

An economist Professor Godfred Bokpin has cautioned that the economy of Ghana has deteriorated further since the country joined the International Monetary Fund (IMF) programme.

He warned that President Nana Akufo-Addo’s plan to exit the programme in 2026 could destabilise the economy if done prematurely.

Speaking on Joy FM on Monday, 17 February 2025, the Finance and Economics Professor at the University of Ghana stressed that Ghana’s economic struggles are more severe than when the country initially sought IMF support.

“We are an economy that is struggling. We are in a worse situation than we were when we went to the IMF,” he stated, urging the government to consider extending the programme if necessary.

He further warned that an early exit could send negative signals to investors, who prioritise long-term economic stability.

“When people are investing, they want stability for the long term, not just one or two years. Otherwise, those considering long-term commitments may hesitate,” he noted.

Prof. Bokpin highlighted Ghana’s restricted access to international capital markets until 2027, complicating the country’s economic recovery. He cited warnings from the World Bank, which has advised Ghana against rushing back to the market, pointing out that countries that undergo debt restructuring typically need three to four years to regain investor confidence.

Ghana’s Tax System: A Major Economic Challenge

Another critical concern raised by the economist is Ghana’s inefficient tax system. He revealed that only 41% of the economy contributes 86% of tax revenue, leaving a substantial portion of economic activities untaxed.

“A large chunk of our economy is not taxable. The bigger percentage of our economy contributes just about 40% of tax revenue,” he explained.

While acknowledging government efforts to enhance tax education and administration, he recommended properly taxing high-net-worth individuals, which he estimated could generate up to $160 million annually.

He also cautioned against overburdening compliant taxpayers with additional levies, warning, “If we are not careful, we will kill the chicken that lays the egg.”

Prof. Bokpin’s concerns come as Ghana continues implementing fiscal measures under its $3 billion IMF programme, initiated in 2023. While the government remains optimistic about meeting its fiscal targets through improved tax collection and expenditure controls, the economist insists that a more strategic approach—possibly extending the IMF programme—would be in Ghana’s best interest.

“The idea of reviewing the programme with the possibility of an extension should not be off the table,” he concluded.

Source: businessinsiderafrica
Via: norvanreports
Tags: Ghana's Early Exit From IMF Programme Could Destabilize Economy - Experts SayIMF programme

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

OPEC+ Nears Decision Point on Next Oil Output Hike

Europe’s Energy Future Hinges on Global Powers

US Companies Cut Investments in China to Record Lows, Here’s Why

How AI is Rewriting and Enhancing Water Risk Management

SheFarms Broiler Edition Kicks Off in Greater Accra

PharmAccess Ghana, Healthcare Federation of Ghana sign SafeCare License Agreement; to use Newest ISQua-Certified Version 5

Trending

Business

Multichoice Rebuffs Minister’s Claim On DSTV Price Cuts, Cites Market Conditions

August 3, 2025

Multichoice Rebuffs Minister's Claim On DSTV Price Cuts, Cites Market Conditions MultiChoice Ghana has pushed back against...

MTN Nigeria Now the Most Capitalized Stock in Nigeria

August 3, 2025

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

August 3, 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

August 3, 2025

Europe’s Energy Future Hinges on Global Powers

August 3, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.