Ghana must end cycle of IMF reliance – Sagnarigu MP

The Member of Parliament for Sagnarigu, Atta Issah, has urged the government to reconsider its reliance on the International Monetary Fund (IMF). His comments follow a recent agreement between the IMF and Ghana. This agreement came after the fourth review of Ghana’s three-year Extended Credit Facility (ECF) programme. If approved by the IMF Executive Board, it will provide about US$370 million in financial aid.

Mr. Issah spoke on Citi FM’s Eyewitness News with Umaru Sanda Amadu. He expressed concern over Ghana's long history with the IMF, spanning three decades. "I urge that this should be the last time we cede our sovereignty," he said. He questioned why every government has engaged with the IMF 17 times in that period.

He believes it is time for reflection as a nation. Mr. Issah emphasized that this should be the final approach to the IMF. He acknowledged contributions from both Akufo-Addo and Mahama administrations in managing the economy. "The NDC and NPP deserve credit for handling this IMF programme," he stated.

In its recent review, the IMF noted that Ghana's economy exceeded expectations in 2024. This growth was driven by strong performance in mining and construction sectors. However, concerns were raised about potential fiscal issues before upcoming elections and delays in key reforms.