Mahama rules out IMF Program extension but open to reassessment

President John Dramani Mahama has reaffirmed his administration’s commitment to Ghana’s ongoing IMF-backed economic recovery program, stating there are no current discussions to extend it beyond May 2026.

However, he indicated that if economic conditions necessitate additional support, the government would reconsider its options.

Speaking at the Munich Security Conference on February 14, Mahama criticized the previous administration’s tax-heavy approach, arguing that excessive taxation led to declining revenue.

He emphasized the need for sustainable economic policies as Ghana continues negotiations with the IMF on tax rationalization and debt restructuring.

His remarks come amid efforts to stabilize the economy while addressing concerns over revenue generation and financial discipline.