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Former Minister of State at the Ministry of Finance and Chairperson of Parliament’s Public Accounts Committee, Abena Osei-Asare, has cautioned that Ghana’s true test of economic management will come after the conclusion of the ongoing International Monetary Fund (IMF) programme in 2026.
Speaking on The Point of View on CITI TV, the former Deputy Finance Minister commended the government for sustaining key reforms that have led to improvements in growth and inflation, but warned that maintaining policy discipline beyond the IMF-supported framework will determine the country’s long-term economic stability.
“Clearly, they are fast forwarding the reforms that we put in place. I am happy that they are going by those reforms and that is what is yielding results,” she said. “The most important thing is to sustain this beyond the IMF programme. That is where the real test lies.”
Mrs. Osei-Asare emphasised the importance of building “buffers and strong institutional systems” to preserve the gains made under the IMF’s Extended Credit Facility.
“The fear is what happens after the programme, have they put in place systems and strategies that will uphold or maintain whatever they have done? For me, the test will come after they have gone off the IMF programme,” she said.
Ghana entered the $3 billion IMF Extended Credit Facility in May 2023 to restore macroeconomic stability, rebuild foreign reserves, and return public debt to a sustainable path following what was described as the country’s worst economic crisis in decades.
The programme, which runs until 2026, has so far yielded positive signs — including a gradual decline in inflation, a stabilising cedi, and renewed investor confidence.
However, Mrs. Osei-Asare cautioned that the sustainability of these gains depends on continued fiscal prudence and institutional discipline once IMF oversight ends.
“We must not relax after the programme. The discipline and structural reforms must continue, or else we risk reversing the progress that has been made,” she added.
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