Banking consultant Richmond Atuahene has praised Ghana’s International Monetary Fund (IMF) programme, saying it played a crucial role in stabilising key economic indicators, including inflation, the exchange rate, and foreign reserves, after several years of economic difficulties.

His comments follow the government’s announcement that Ghana has completed the IMF-supported US$3 billion Extended Credit Facility programme ahead of schedule and will transition to a non-financing Policy Coordination Instrument (PCI) framework.

Speaking in an interview on Channel One TV on Monday, May 18, 2026, Atuahene said the country’s current economic direction offers hope for stronger growth prospects and has helped restore investor confidence in the Ghanaian economy.

IMF's new policy could hurt Ghana's economic independence - ISODEC

“The programme has shaped us; we have had inflation down, currency stability and stronger reserves, although we have not been able to do much on the social reforms,” he stated.

“We’re on the right trajectory, and it’s a good beginning to move into a period of sustained economic growth,” he added.

Atuahene also reflected on the severity of Ghana’s economic crisis between 2022 and 2023, noting that the country experienced soaring inflation, a widening fiscal deficit, and sharp currency depreciation during that period.

He explained that Ghana entered the IMF programme in 2023 as part of efforts to restore macroeconomic stability and restructure its debt after the economy came under severe pressure from rising inflation, debt distress, and cedi depreciation.

“Looking at where we started in 2022 and 2023, it was terrible as far as inflation was concerned. The fiscal deficit was about 7.9 percent, and the currency was depreciating like Usain Bolt. At one point, our reserves were down to $1.7 billion,” he recalled.

ANAS/MA