Emergency Support Alone Is Not Enough- Veep to IMF

The Vice President of Ghana, Prof Jane Naana Opoku-Agyemang, has postulated the need for an evolution in the Ghana’s relationship with the IMF.

According to her, providing emergency financial support alone isn’t enough.

“Emergency support alone is not enough. Africa continues to face structural challenges, including high borrowing costs. But we also have great opportunities, including the promise of the African Continental Free Trade Area (AfCFTA), and a growing resolve to pursue self-reliance, supported by coordinated and fair international cooperation.”

Addressing a meeting with Heads of International Monetary Fund (IMF) country and regional offices in Africa on Monday, she reflected on Ghana’s experience at a time when questions of debt and development finance were of the utmost concern globally.

Reporting on the meeting in a Facebook post, she said the programme has resulted in an improved macroeconomic situation, single-digit inflation, a more stable Cedi, and stronger real GDP growth.

“These gains are not abstract; they are felt in real ways across the economy. I stated that Ghana enters this new phase with cautious optimism and determination, grounded in the fact that the progress we are making is driven by reforms supported—not dictated—by the IMF, and sustained by the country’s commitment to making difficult but necessary choices.”

She further acknowledged the relevance of international financial institutions on the continent, while noting that recent global and regional shifts increasingly show that Africa is ready to do more on its own, even as we continue to pursue mutually beneficial partnerships.

Story by Hajara Fuseini

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