Ghana Can’t Keep Running to the IMF, Warns Oquaye
Former Speaker of Parliament, Professor Mike Oquaye, has raised concerns about Ghana’s frequent dependence on the International Monetary Fund, warning that repeated bailouts are not a lasting solution to the country’s economic problems. Speaking on Channel One TV on Monday, December 15, he noted that Ghana has gone to the IMF about 17 times, mainly because the country does not raise enough revenue to cover its spending. He explained that IMF support usually comes when a country is in serious financial trouble and needs emergency help to stabilise the economy, but said this approach does not fix the deeper structural issues. According to him, relying on the IMF cannot replace the need for strong economic reforms, stressing that the mismatch between government income and expenditure remains the main problem. Prof. Oquaye therefore called on policymakers to focus on long-term measures such as improving revenue generation and enforcing fiscal discipline instead of repeatedly turning to the IMF for support.
