Dr. Priscilla Twumasi Baffour, a Senior Lecturer at the Department of Economics at the University of Ghana, has expressed optimism that the government will act prudently once Ghana secures a deal with the International Monetary Fund (IMF). She emphasized the need for the government to exhibit fiscal prudence by enhancing revenue mobilization to reduce debt levels.
For the most part, Dr. Twumasi Baffour highlighted the need for the government to live within its means and reduce borrowing levels. She pointed out that the country had gone through an unexpected term due to external shocks and internal mismanagement of affairs, which has resulted in the current economic challenges.
She stressed that the government must work on its revenue mobilization drive to increase domestic revenue generation. She stated that the wrongs were glaring, hence the need for the government to exhibit fiscal discipline.
Dr. Twumasi Baffour expressed hope that once the IMF program goes through, Ghana will not repeat the same mistakes again. She said, “As we are all anxiously waiting for the IMF program, once we get this deal, hopefully, we will do the right thing.”
In a nutshell, Dr. Twumasi Baffour’s statements point to the need for Ghana to prioritize fiscal prudence and reduce the debt levels. She urged the government to take lessons from the current economic shocks and work on enhancing revenue mobilization. The IMF program, once secured, should serve as an opportunity for the government to address the country’s economic challenges and exhibit fiscal discipline.