IMANI Africa’s Vice President, Bright Simons, has raised sharp concerns over Ghana’s possible early exit from the ongoing IMF programme, describing it as a politically driven move that risks undermining long-term economic reforms.
Speaking on PM Express Business Edition, Simons argued that both the government and the IMF appear more focused on optics than outcomes.
“IMF will do a victory lap dance. The government will join them. And then we will conclude by 2028 that we have not met those targets but by that time, we’re not in the programme.” he said.
Simons warned that Ghana’s history of treating IMF engagements as short-term transactions, rather than as platforms for deep structural reform, could derail fiscal discipline once programme oversight ends. He emphasized that while the programme’s benchmarks such as debt-to-GDP ratios are crucial, political cycles are likely to erode their relevance.
“The real issue is whether we are serious about structural reform or just looking for a good story to tell investors,” Simons noted, casting doubt on the government’s long-term commitment.
Drawing parallels with Kenya and Nigeria, he highlighted how peer nations are either exiting IMF arrangements for quick cash or avoiding them altogether.
“Kenya raised $1.5 billion from the Gulf after leaving the programme. That mindset is going to gain ground in a lot of places,” he observed.
Simons concluded by criticizing the IMF for not pressing the government to extend the programme. “If the IMF really wanted us to get to those targets, it should have encouraged the government when they said they wanted to extend. That was the only way from 2026 to 2028 that there could have been programme levers to deliver those targets.”
With Ghana eyeing a return to international capital markets, Simons warned that without the discipline of IMF oversight, economic targets could fade into irrelevance leaving only a good headline and little reform.
