Ghana’s IMF exit just a ‘bye bye, see you later’ — Kwadwo Poku

A member of the New Patriotic Party (NPP) communications team, Kwadwo Poku, has cast doubt on Ghana’s ability to sustain its exit from the International Monetary Fund (IMF), suggesting the country will soon return to the Fund.

His comments follow government’s announcement of the completion of Ghana’s three-year Extended Credit Facility (ECF) programme with the IMF and the country’s transition to a non-financing Policy Coordination Instrument (PCI).

The Presidency had earlier described the development as a key milestone in Ghana’s economic recovery, following years of fiscal reforms, debt restructuring and macroeconomic adjustments.

However, speaking on Accra-based JoyNews’ AM Show on Tuesday, May 9, the NPP communicator argued that the government’s fiscal outlook remains fragile, warning of funding challenges ahead.

According to him, the state may be forced into either heavy borrowing or tax increases to meet its financial obligations.

Mr. Poku argued that government’s current fiscal commitments far exceed available domestic resources, a situation he said would place pressure on policymakers in the coming years.

“Where are you going to get 15.3 billion from? You tell me, where is the government going to get 15.3 billion?” he questioned.

“As for the IMF exit, it is just a bye bye, see you later. We are going to go back,” he stated.

Meanwhile, Finance Minister Dr. Cassiel Ato Forson has stated that the government is shifting its attention from economic stabilisation to job creation and national development.

The Finance Minister disclosed that government would soon unveil a flagship economic initiative dubbed the “new economy”, aimed at accelerating development and expanding employment opportunities.

He explained that the government’s next phase of economic management would focus on ensuring that the gains from stability directly benefit ordinary Ghanaians.