Banking consultant, Dr Richmond Atuahene, has said Ghana is on the right economic path following the successful completion of its US$3 billion Extended Credit Facility programme with the International Monetary Fund (IMF).

His remarks come after the government announced that Ghana had exited the IMF-supported programme ahead of schedule and would now move from a financial bailout arrangement to a non-financial policy support framework.

According to government, the development signals improved macroeconomic stability and progress towards debt sustainability, following the implementation of key fiscal and structural reforms.

Dr Atuahene, speaking on Channel One TV on Monday, May 18, 2026, described the exit as a positive indicator for the country’s economic outlook.

“We’re on the right trajectory, and it’s a good beginning to go into economic growth,” he stated.

He recalled the severity of Ghana’s economic challenges during the early phase of the programme, particularly between 2022 and 2023, citing high inflation, widening fiscal deficits and sharp 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.

Dr Atuahene noted that the IMF programme helped stabilise key macroeconomic 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.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

Tags:

Ghana is on correct economic path after IMF programme ends – Dr Atuahene

Suggested for you

More Stories

ECOWAS Court of Justice visits Guinea for sensitization and external court session

Stephen Amoah defends Akufo-Addo government's IMF bailout decision

Abolish Section 208 now! It is an old law that does not support democracy – Samson Lardy Anyenini

EPA shuts down Mpohor Mining site over alleged illegal foreign involvement

Fallon Foundation launches Pad for Prisons Initiative to improve menstrual hygiene for women in Ghana prisons

Private broadcasters strengthen democracy, accountability, and national development – GIBA President

Discussion