Ghana must focus on building its credibility after sealing IMF deal – Economist

Prof. Godfred Bokpin

Economist and an Associate Professor of Finance at the University of Ghana Business School (UGBS), Prof. Godfred Bokpin has admonished government to focus on doing things right after sealing the deal with the International Monetary Fund (IMF).

Speaking to Joys News in an engagement on Ghana's external debt restructuring, the Economist proposed that government must focus on building the country’s credibility.

Prof. Godfred Bokpin wants government to work towards increasing its domestic revenue mobilisation.

“What we have to focus on is how to build our credibility and scale up on the credibility scale. We also have to focus on revenue mobilisation.

“We have to strengthen our fiscal regime and the public financial management post-IMF,” Prof. Godfred Bokpin indicated.

According to the economist, one of Ghana’s problems has been the inability to ensure value for money on the use of loans.

Ghana only this month secured Executive Board approval from the International Monetary Fund for a $3 billion Extended Credit Facility.

Although the country is not out of the woods as far as the economic crisis is concerned, President Nana Addo Dankwa Akufo-Addo has disclosed that his government plans to go to the International Market to borrow.