Economist doubts Mahama's claim Ghana may not resort to IMF in future

A renowned economist at the University of Cape Coast, Dr John Gatsi is doubting promise by President Mahama that Ghana is unlikely to resort to the IMF in future.

President Mahama at his arrival from the 69 th United Nation (UN) General Assembly meeting Sunday told a group of National Democratic Congress (NDC) that government will tighten its fiscal policies in order to ensure the conditions that compelled Ghana to turn to the IMF is not repeated.

The president said: “While I have been aware, we notice there's been some stabilisation on the economic front and it is a very welcomed development but while we can see light at the end of the tunnel, we are not out of the woods yet.”

“We are going to go into a three-year program with IMF and it is my believe that Ghana's economy will become stronger and more robust than ever before in the history of this country,” he noted.

President Mahama added that: “It is my hope that it will be the last time we'll have to go to the IMF again for any such program. This will be IMF program to end all programs.”

But speaking to Joy News, Dr John Gatsi said little will change unless government deals with its fiscal indiscipline.

The economist stated, “The indiscipline in terms of the use of public funds is continuing in our society. I do not know whether right now we have that ability to be able to stop people from engaging in that activities. The incompetence and ineffectiveness in some of our public institutions I do not think we have overcome that.”

“It's a huge task and one cannot vouch that we will not face difficulties and for that matter we may not be resulting to the IMF,” Dr John Gatsi added.