Reform or return to IMF, Stephen Amoah warns: arbitrary cuts and high borrowing are killing Ghana’s economy.
Stephen Amoah has called for major structural reforms to stabilise Ghana’s economy and prevent a return to another bailout programme with the International Monetary Fund. Speaking amid discussions on Ghana’s transition from the IMF-supported programme to the Policy Coordination Instrument, the Nhyiaeso MP argued that expenditure cuts should be based on sound economic analysis rather than arbitrary reductions, warning that poorly targeted spending cuts could harm GDP growth. He also criticised high-rate domestic borrowing by government, saying it undermined private sector growth, while identifying corruption, inefficiency and wastage in public institutions as major threats to economic stability. Dr Amoah further stressed the need for urgent investment in agriculture and local production to reduce import dependence and strengthen the country’s long-term economic resilience.
