Ghana will only fully recover from economic crisis when IMF programme is completed – Dr. Adu Sarkodie

Dr. Dr. Adu Sarkodie

An Economist and Senior Lecturer at the University of Ghana, Dr. Adu Owusu Sarkodie says it is not right to conclude that the country has fully recovered from its economic crisis.

According to him, Ghana will fully recover when it completes the programme it currently has with the International Monetary Fund (IMF).

Dr. Adu Owusu Sarkodie believes that the country will make a full recovery after 2026.

“There have been some performances but I must say that we have not fully recovered, we are on a path to recovery. The full recovery will come when we have completed the programme.

“You do not expect to reap the full benefit of a programme whose financing is being given to you spread over three years. Even the IMF document itself has projected that Ghana will fully recover and go back to the pre-COVID levels in the year 2026,” Dr. Adu Owusu Sarkodie said in an interview with TV3.

This comes after President Akufo-Addo stated that Ghana’s economy has experienced a complete turnaround after government secured a deal with the IMF.

Speaking at the Jubilee House when the Managing Director of the Fund, Kristalina Georgieva called on him, President Akufo-Addo said it has become clear his government made the right decision to seek IMF support.

“It is obvious that the decision we made in July 2022 to come and seek your support for the difficult economic circumstances in which we were involved as far as I am concerned is a decision that has already paid off. It has paid off in terms of the clear turnaround that we are seeing in our economy.

“The very dire circumstances in which we were at the time we took that difficult decision and where we are today is a very clear testimony of the fact that our decision to seek your support was a decision that was correct and we have had very positive benefits from it,” President Akufo-Addo said.