President John Dramani Mahama has expressed firm optimism that Ghana will complete its $3 billion Extended Credit Facility (ECF) programme with the International Monetary Fund (IMF) without requiring an extension beyond its scheduled conclusion in April 2026.
Speaking during a reflection session with business leaders following the Kwahu Business Forum, President Mahama reiterated his administration’s commitment to maintaining strict fiscal discipline and fully executing the terms of the IMF-supported programme.
“We will maintain fiscal discipline and prudence during the IMF programme, but our discipline will not end there. Even after we exit next year, I hope that we will have implemented the programme so effectively that there will be no need for an extension beyond April 2026,” Mahama stated.
He added that post-programme fiscal responsibility would be a cornerstone of his government’s economic strategy, aiming to create a more enabling environment for private sector participation.
“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.”
President Mahama further emphasized the importance of empowering the private sector as a key pillar of Ghana’s economic recovery and long-term development.
“If the private sector thrives, the economy thrives. If the private sector is happy, the 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 also highlighted the limitations of public sector employment, pointing out that fewer than one million Ghanaians work in government roles.
“When you add up all government employees, from watchmen to chief executives, you’re talking about approximately 800,000 people in a population of 33 million. Even if we doubled that number, we would still face a major youth unemployment challenge.”
President Mahama concluded by calling on stakeholders to support policies that will boost private investment and create sustainable employment opportunities.
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