Financial economist Dr. Bernard Tetteh-Dumanya has asserted that Ghana has the potential to mobilise up to US$40 billion without increasing its debt stock or depending on IMF prescriptions.
According to Dr. Tetteh-Dumanya, this can be achieved through strategic financial mechanisms, including diaspora bonds, infrastructure bonds, public-private partnerships, venture capital for SMEs, and optimised natural resource management.
Dr. Tetteh-Dumanya warns that failure to implement these strategic financial initiatives would push Ghana into deeper reliance on IMF programs, which have historically undermined local policies and economic sovereignty.
He cited examples from other African nations where IMF interventions resulted in weakened health systems and failed to address structural inefficiencies, emphasising that Ghana risks falling into a cycle of IMF dependency and economic instability without a proactive, self-reliant financial strategy.
Dr. Tetteh-Dumanya shared these thoughts in response to recent statements by President John Dramani Mahama, describing Ghana’s economic situation as a “crime scene” due to reckless financial mismanagement by the previous administration.
Dr. Tetteh-Dumanya spoke ahead of the upcoming National Economic Dialogue scheduled for March 3-4, 2025, in Accra.
BFT