By: Love Wilhelmina Abanonave
Ghanaian Economist and Professor of Finance at the University of Ghana Business School (UGBS), Prof. Godfred Bokpin has lamented on Ghana’s frequent reliance on the International Monetary Fund (IMF) to the extent of going there 17 times when some countries have never been there.
He cited Malaysia as an example of a country that has managed its economy effectively without IMF assistance. He urged Ghana to learn from such countries and adopt better economic management practices.
“Malaysia has never been to the IMF, Ghana has been to the IMF 17 times, we need to be provoked to do better’’ he said.
Speaking at the Ghana Cedi Appreciation seminar 2025 on Thursday, August 21, Prof Bokpin while acknowledging the recent appreciation of the Ghanaian cedi, cautioned against celebrating average growth. He emphasized that the country’s history of borrowing from the IMF necessitates a more robust economic strategy.
“We should not celebrate average growth in the stability of the cedi but strive to improve economic governance’’, he said.
Professor Bokpin stressed the importance of maintaining fiscal discipline to avoid returning to the IMF. He suggested implementing binding fiscal rules and enhancing transparency in debt reporting and monetary operations.
The seminar, hosted by the Prudential Bank had partners and business experts in attendance. The theme for the year was “The Ghana Cedi Appreciation in 2025- Outlook and Impact on Business.”
