Deputy Finance Minister Thomas Ampem Nyarko has reaffirmed the government’s strong commitment to fiscal responsibility, emphasizing that Ghana is capable of sustaining economic growth beyond the current IMF programme.
Mr. Nyarko referenced President John Mahama’s eight economic pillars, describing them as a flexible and robust framework capable of addressing a wide range of national priorities, including corruption.
PFM Framework Signals Anti-Corruption Intent
While some have questioned the absence of corruption in the President’s outlined pillars, Mr. Nyarko clarified that the government’s anti-corruption efforts are embedded within broader public financial management (PFM) reforms.
“The President’s stance on PFM reflects a clear determination to tackle corruption at its core,” he said, adding that the omission of corruption as a standalone pillar does not reflect a lack of commitment.
He emphasized that the government has taken clear steps to strengthen financial governance and accountability, aligning with global benchmarks and public expectations.
Gains Made Under IMF Programme to Be Sustained
Addressing concerns about Ghana’s performance under the IMF programme, Mr. Nyarko highlighted early successes in meeting key targets such as amending the Fiscal Responsibility Act ahead of schedule in March rather than the initial target of September 2025.
Despite initial skepticism, the government has shown consistent progress in achieving structural benchmarks.
“Our aim is not just to complete the programme,” he said, “but to maintain the progress made and build a more resilient economy going forward.”
He confirmed that IMF Board approval is expected in June, a major milestone toward successful programme completion.
No Return to Hidden Debts or Mismanagement
In response to concerns raised by economists such as Professor Godfred Bokpin, Mr. Nyarko stressed that exiting the IMF will not result in a return to financial mismanagement or artificial borrowing space created through hidden liabilities.
“This will be Ghana’s last engagement with the IMF,” he asserted.
Economic Legacy and Long-Term Vision
The Deputy Minister reiterated the administration’s goal of leaving behind a strong economic legacy. Through sound policies, fiscal discipline, and transparent governance, the government intends to reset Ghana’s economic foundations for long-term, sustainable development.
