IMF, DEBT RELIEF DRIVING ECONOMIC GAINS, NOT GOVERNMENT COMPETENCE, MINORITY ASSERTS
Opposition says Ghana’s recovery is externally driven, not the result of Mahama administration reforms
The Minority in Parliament has dismissed claims that Ghana’s recent economic gains under President John Dramani Mahama are a product of sound management or policy innovation by the government.
Speaking at a press briefing on Monday, January 26, 2026, Minority Leader Alexander Afenyo-Markin attributed the country’s improving fiscal outlook to external support mechanisms such as the International Monetary Fund (IMF) programme, debt relief, and rising export revenues, rather than domestic economic competence.
“We have been told that the economy is doing well. That is not in doubt,” Afenyo-Markin said. “But the question is: is the economy doing well because of prudent management, or because there have been external interventions?”
He argued that the current administration’s public narrative of “record-breaking economic recovery” is misleading, adding that the IMF programme and debt restructuring measures have been the real catalysts for stabilisation.
“We hereby submit that the so-called gains were not born out of the government’s competence in the management of our economy,” the Minority Leader stated.
“Rather, the IMF programme, debt relief, rising commodity exports, and reduced expenditure are the major reasons for the upswing in Ghana’s economy, not a re-engineering of the economy.”
The Minority further contended that Ghana’s fiscal space has improved mainly because of the suspension of external debt servicing and favourable global market conditions, especially for gold and cocoa exports, rather than deliberate policy innovation.
Mr. Afenyo-Markin challenged the government to demonstrate how its internal reforms have directly contributed to inflation reduction and cedi appreciation, insisting that the credit should largely go to the IMF’s fiscal consolidation framework and international market trends.
The Minority’s remarks come just a day after President Mahama declared that Ghana had become the “poster boy of the IMF and World Bank”, citing record drops in inflation and a 37% cedi appreciation in 2025.
While acknowledging the recent economic progress, Afenyo-Markin said true competence would be measured by sustainable job creation, productive investments, and industrial growth, not short-term relief driven by external support.
“What Ghanaians want is a self-sustaining economy, not one propped up by external bailouts,” he added.
Source:NKONKONSA.com
