Ghana on the right economic path after IMF programme — Dr Atuahene
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Dr. Richmond Atuahene, Banking Consultant
Dr. Richmond Atuahene, a banking consultant, has said Ghana is on the right economic path following the successful completion of the country’s $3 billion Extended Credit Facility programme with the International Monetary Fund.
His comments follow the government’s announcement that Ghana had exited the IMF programme ahead of schedule and would now transition from a financial bailout arrangement to a non-financial policy support framework.
According to the government, the development reflects restored macroeconomic stability and progress towards debt sustainability after the implementation of several fiscal and structural reforms.
Speaking on Channel One TV’s The Point of View on Monday, May 18, 2026, Dr Atuahene described the development as a positive sign for the country’s economic future.
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“We’re on the right trajectory, and it’s a good beginning to go into economic growth,” he stated.
Reflecting on the country’s economic challenges at the start of the IMF programme, Dr Atuahene said conditions between 2022 and 2023 were severe, particularly in relation to inflation, fiscal deficits and currency depreciation.
“Looking at where we started in 2022-2023, it was terrible as far as inflation was concerned. The fiscal deficit was about 7.9 per cent, and the currency was depreciating like Usain Bolt. Our reserves at one time were $1.7 billion,” he said.
According to him, the IMF programme helped stabilise key economic indicators, including inflation, the exchange rate and foreign reserves.
“The programme has shaped us; we have had inflation down, currency stability and the reserves, although we have not been able to do much on the social reforms,” he added.
In a statement issued by Presidential Spokesperson and Minister for Government Communications, Felix Kwakye Ofosu, the government attributed the economic recovery to aggressive fiscal and structural reforms introduced after setbacks to the IMF programme at the end of 2024.
The statement said the administration of John Dramani Mahama implemented frontloaded fiscal consolidation measures, expenditure rationalisation and broader reforms aimed at restoring investor confidence and stabilising the economy.