Toma Imihere, a financial analyst, has urged the Mahama administration to move beyond focusing solely on fiscal deficit reduction and exchange rate stability and prioritise productive economic growth that creates jobs and boosts tax revenue.
His comments come after the government announced that Ghana had completed its programme with the International Monetary Fund (IMF) ahead of schedule and would transition from a financial bailout arrangement to a non-financial policy support framework.
The government said the achievement reflected restored macroeconomic stability and progress towards debt sustainability following a series of fiscal and structural reforms.
However, speaking during an interview with Umaru Sanda Amadu on Channel One TV’s The Big Issue on Saturday, May 16, Mr Imihere argued that stabilising the economy alone would not be enough to transform livelihoods.
“We need to move beyond our fiscal deficit and exchange rate stability. We need to go further and increase the productive pace that will give us jobs and tax revenue. That is the basics,” he said.
According to him, Ghana’s long-term economic recovery would depend on expanding productive sectors of the economy capable of generating sustainable employment opportunities and increasing domestic revenue mobilisation.
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