The Chief Executive Officer of the Association of Ghana Industries (AGI), Seth Twum-Akoaboah, has cautioned that Ghana’s recent economic stability and rising investor confidence could come under strain once the country exits its programme with the International Monetary Fund (IMF).
Although he acknowledged improvements in fiscal management and renewed market optimism, he raised concerns about the sustainability of these gains without continued IMF support. The programme, he noted, has been instrumental in restoring credibility and attracting investment, prompting questions about how investor sentiment may shift following its conclusion.
He emphasised that preserving current momentum will require sustained policy discipline and consistency, warning against complacency that could undermine recent progress.
“We’ve gained significant confidence in the system and encouraged investment. The government has managed the economy prudently, which has boosted confidence. If the IMF exits, what are the implications?” he queried.
Beyond macroeconomic stability, the AGI underscored the importance of strengthening domestic production to reduce dependence on imports, which continue to expose the economy to external shocks. Expanding local industry, he argued, is essential for building long-term economic resilience.
Speaking on Channel One TV on Monday, 27 April, Twum-Akoaboah also highlighted ongoing challenges in access to affordable financing. He called on institutions such as the Ghana EXIM Bank, Development Bank Ghana, and the National Investment Bank to prioritise lending to productive sectors.
He further advocated for lower interest rates to support industrial expansion and sustain the country’s economic recovery.
