Investor confidence returning under Mahama gov’t – Franklin Cudjoe

Chief Executive Officer of IMANI Center for Policy and Education, Franklin Cudjoe, says investor confidence is gradually returning to Ghana under the administration of John Dramani Mahama.

In a social media post reacting to Ghana’s official exit from the International Monetary Fund bailout programme, Mr. Cudjoe praised the government’s economic management strategy and described the transition as a significant boost to market credibility.

According to him, the Mahama-led administration had restored confidence through transparency, discipline, and prudent coordination with the IMF programme inherited from the previous government.

“Buoyed by confidence, candour, and transparency, the government’s finance team, competently led by Dr. Ato Forson, carefully choreographed how to work with the IMF programme they inherited,” he wrote.

Mr. Cudjoe said the government’s decision to remain under an IMF Policy Coordination Instrument after exiting the Extended Credit Facility programme was a strategic move aimed at reassuring investors and protecting fiscal discipline.

“This is to remain credible to investors and the markets, and in the process mobilise enough capital to invest in critical areas of the economy,” he stated.

He added that the current administration had achieved notable macroeconomic improvements within a short period, including declining inflation, stronger reserves and a reduction in debt levels.

“The fastest economic recovery in Ghana’s history has been recorded and achieved by version 2.0 of the Mahama-led government,” he said.

The policy analyst also pointed to what he described as “a confident cedi” and “the quickest debt reduction from 65% to 45% of GDP in just one year” as evidence of improving economic conditions.

Mr. Cudjoe further argued that the economic collapse witnessed in 2022 was avoidable, blaming years of fiscal indiscipline and failure to meet IMF structural benchmarks under the previous administration.

He, however, urged the government to sustain the gains by reforming loss-making State-Owned Enterprises and maintaining budget discipline.

In the background, Ghana has officially concluded its $3 billion Extended Credit Facility financial bailout programme with the IMF, marking the end of its borrowing arrangement. Finance Minister Cassiel Ato Baah Forson announced the successful exit following the completion of the 2026 Article IV Consultation and the sixth review under the ECF.