Dr. Vladimir Antwi-Danso, a Senior Fellow at the Institute of Economic Affairs (IEA), has issued a strong call for President John Mahama to take decisive action to end Ghana’s recurring reliance on International Monetary Fund (IMF) bailouts, describing it as a damaging cycle that has plagued the country’s economic stability for decades.
Speaking in the context of Ghana’s ongoing $3 billion IMF-supported programme—its 17th engagement with the Fund—Dr. Antwi-Danso warned that without deep structural reforms and strict fiscal discipline, especially during politically charged election years, the country risks falling back into economic distress once the current programme ends in 2026.
“The president says this is his legacy term—if that’s the case, he must make it count,” Dr. Antwi-Danso asserted. “It’s become routine: we run to the IMF after every economic meltdown, mostly caused by reckless election-year spending.”
He criticized successive governments, including Mahama’s, for prioritizing short-term political gains over long-term economic sustainability. According to him, election-year spending has historically been skewed toward consumption rather than investment, creating a debt burden without generating matching revenue.
“We borrow to consume, not to invest. That’s the real problem,” he said. “We need to change this trajectory and adopt responsible fiscal behavior that supports long-term growth.”
Dr. Antwi-Danso recommended that the Mahama administration use this final term to implement bold, corrective measures—ranging from reining in non-essential expenditures to instituting reforms that will ensure better fiscal governance and reduce dependency on external financial support.
Meanwhile, some financial experts, including Deloitte Ghana’s Country Managing Partner, Daniel Kwadwo Owusu, have suggested extending the IMF programme by one to two years to consolidate the gains made so far. But Dr. Antwi-Danso cautioned that extensions are not a substitute for fundamental reform.
“Continuing with the IMF may buy us time, but it won’t solve the root problem. Only internal discipline and strategic investments can do that,” he stressed.
With growing public concern over Ghana’s economic future, Antwi-Danso’s remarks underscore the urgent need for leadership that prioritizes long-term resilience over short-term political expediency.
Dr. Vladimir Antwi-Danso, a Senior Fellow at the Institute of Economic Affairs (IEA), has issued a strong call for President John Mahama to take decisive action to end Ghana’s recurring reliance on International Monetary Fund (IMF) bailouts, describing it as a damaging cycle that has plagued the country’s economic stability for decades.
Speaking in the context of Ghana’s ongoing $3 billion IMF-supported programme—its 17th engagement with the Fund—Dr. Antwi-Danso warned that without deep structural reforms and strict fiscal discipline, especially during politically charged election years, the country risks falling back into economic distress once the current programme ends in 2026.
“The president says this is his legacy term—if that’s the case, he must make it count,” Dr. Antwi-Danso asserted. “It’s become routine: we run to the IMF after every economic meltdown, mostly caused by reckless election-year spending.”
He criticized successive governments, including Mahama’s, for prioritizing short-term political gains over long-term economic sustainability. According to him, election-year spending has historically been skewed toward consumption rather than investment, creating a debt burden without generating matching revenue.
“We borrow to consume, not to invest. That’s the real problem,” he said. “We need to change this trajectory and adopt responsible fiscal behavior that supports long-term growth.”
Dr. Antwi-Danso recommended that the Mahama administration use this final term to implement bold, corrective measures—ranging from reining in non-essential expenditures to instituting reforms that will ensure better fiscal governance and reduce dependency on external financial support.
Meanwhile, some financial experts, including Deloitte Ghana’s Country Managing Partner, Daniel Kwadwo Owusu, have suggested extending the IMF programme by one to two years to consolidate the gains made so far. But Dr. Antwi-Danso cautioned that extensions are not a substitute for fundamental reform.
“Continuing with the IMF may buy us time, but it won’t solve the root problem. Only internal discipline and strategic investments can do that,” he stressed.
With growing public concern over Ghana’s economic future, Antwi-Danso’s remarks underscore the urgent need for leadership that prioritizes long-term resilience over short-term political expediency.
