|
Getting your Trinity Audio player ready...
|
President John Dramani Mahama has expressed strong confidence in Ghana’s ability to successfully complete its $3 billion Extended Credit Facility (ECF) programme with the International Monetary Fund (IMF) by its scheduled end date of April 2026.
During a reflection session with business leaders after the Kwahu Business Forum, the former president reaffirmed his commitment to sound economic management and full adherence to the IMF-backed reforms.
“I can assure you that we will maintain fiscal discipline and prudence during the IMF programme, but our discipline will not end there,” Mahama said. “Even after we exit next year, my hope is that we will have implemented the programme so effectively that there will be no need for an extension beyond April 2026.”
He stressed that Ghana’s economic stability would continue even after the programme ends, with a focus on responsible government spending and better management of public finances.
“After we complete the programme, we will continue to manage government expenditure responsibly and maintain disciplined economic management, creating more space for private sector growth,” he added.
President Mahama also underscored the importance of the private sector in driving economic recovery and long-term progress.
“If the private sector thrives, the economy thrives. If the private sector is happy, government is happy. It is the private sector that can absorb and employ the teeming youth graduating from all levels of our educational system,” he noted.
He pointed out the limitations of public sector job creation, highlighting the urgent need to support private businesses in order to reduce youth unemployment.
“When you add up all government employees, from watchmen to chief executives, you’re talking about fewer than a million people — approximately 800,000 — in a population of 33 million,” he explained.
“Even if we doubled that number, we would still face a major youth unemployment challenge. The only sector that can adequately absorb the growing number of young people entering the workforce is the private sector,” Mahama stressed.
His remarks reflect a clear direction toward private sector-led development as a central pillar of Ghana’s future economic strategy.
Email Daily Mail GH: stories@dailymailgh.com or
Whatsapp: +233(0)509928122
