Ghana will complete IMF programme without extension – Mahama

President John Dramani Mahama has expressed confidence that Ghana will complete its $3 billion Extended Credit Facility (ECF) programme with the International Monetary Fund (IMF) on schedule — without seeking an extension beyond April 2026.

Speaking at a reflection session with business leaders following the Kwahu Business Forum, President Mahama reaffirmed his commitment to strict fiscal discipline and full implementation of the IMF-supported programme.

“I can assure you that we will maintain fiscal discipline and prudence during the IMF programme, but our discipline will not end there. Even after we exit next year, my hope is that we will have implemented the programme so effectively that there will be no need for an extension beyond April 2026,” he stated.

He further emphasized: “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 also pledged to prioritize empowering the private sector, positioning it as a key driver of Ghana’s economic recovery and long-term development.

“If the private sector thrives, the economy thrives. If the private sector is happy, 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 said.

Highlighting the limits of public sector employment, Mahama noted: “When you add up all government employees, from watchmen to chief executives, you’re talking about fewer than a million people — approximately 800,000 — in a population of 33 million.”

He stressed: “Even if we doubled that number, we would still face a major youth unemployment challenge. The only sector that can adequately absorb the growing number of young people entering the workforce is the private sector.”