Franklin Cudjoe, Founder and President of IMANI Africa, believes Ghana lacks the fiscal discipline to manage its economy without the International Monetary Fund’s (IMF) support.
He has therefore advised government to exercise restraint in opting out of the IMF programme, suggesting at least an 18-month extension of the facility.
According to him, many are waiting for the country to exit the programme to expend state funds haphazardly and thwart the successes achieved so far by the Finance Minister under the IMF’s guidance.
In a post on his Facebook page on Tuesday, April 14, 2026, Mr Cudjoe, while lauding the Finance Minister’s prudent management of the economy, advised that Ghana wouldn’t be disciplined enough to consolidate the gains made without the Bretton Woods Institution’s supervision.
“I don’ t think we would be disciplined enough on our own. There are too many folks waiting for us to exit the IMF programme so we can spend again like Arabian princes,” portions of his Facebook posted contained.
His comments come on the back of the World Bank’s praise for the turnaround of Ghana’s economy, attributing it to the Finance Minister’s prudent fiscal policies since the new administration took over.
Mr Cudjoe described the IMF’s involvement amid the Minister’s role as a “good show”.
According to him, the feat was attained through “adult supervision by the IMF and a serious student,” in the person of the Finance Minister, advising the government not to allow the external supervision to go.
“So, l suggest we do not rush out of the IMF programme as the last government did. At least we need to extend the IMF deal by a year and half to be sure the commitments we are making to be fiscally prudent will be anchored well in deeds rather than words,” he advised.
Background
Ghana’s economic recovery has earned strong praise from the World Bank, with senior officials commending both the country’s progress and the leadership of Finance Minister Dr. Cassiel Ato Forson.
At a high-level meeting in Washington, the regional vice president for Western and Central Africa, Ousmane Diagana, lauded Ghana’s performance over the past year, describing the turnaround as impressive and signaling the bank’s readiness to deepen support.
Dr. Forson, speaking on behalf of the government, noted that 2025 marked a decisive turning point after a difficult period, with Ghana now firmly on the path to debt sustainability and transitioning toward growth and development.
World Bank officials were particularly emphatic in their praise. Seynabou Sakho, Regional Practice Director for Prosperity (Macroeconomics, Trade and Investment), described the minister’s fiscal reforms as exemplary, noting that his work on restructuring has gained recognition beyond Ghana.
Trina Hague, the Regional Practice Director for People (Education, Health, and Social Protection), also acknowledged Ghana’s resilience and the government’s commitment to protecting vulnerable populations despite external pressures.
The minister highlighted key achievements underpinning the recovery, including a sharp decline in inflation from 23 percent to 3.2 percent, improved currency stability, and sustained investment in social programmes.
With stability restored, Dr. Forson outlined Ghana’s next phase—focused on agriculture, energy, education, and infrastructure—as the country moves to consolidate gains and accelerate inclusive growth, with continued backing from the World Bank.
‘Let’s not rush out of IMF programme’ – Franklin Cudjoe urges gov’t to extend facility by 18 months
