“17 Times Is Enough” — GNCCI Boss Backs IMF Exit, Calls for Fiscal Discipline

Chief Executive Officer of the Ghana National Chamber of Commerce and Industry (GNCCI), Mark Badu-Aboagye, has urged Ghana to maintain strict fiscal discipline and avoid reverting to old economic habits after exiting its current International Monetary Fund (IMF) programme.

Speaking on JoyNews’ PM Express Business Edition on Thursday, he warned that failure to manage the economy independently would make Ghana a permanent client of the Fund.

Mr. Badu-Aboagye said the country’s repeated reliance on IMF support must come to an end, stressing that the reforms introduced under such programmes are not temporary measures but fundamental policies that must be sustained.

“If we continuously do what we are doing, then that means that we should be under the IMF for life,” he said.

He emphasised that Ghana’s credibility will be tested after the programme ends and that the country must demonstrate its ability to maintain fiscal discipline, implement reforms, and protect macroeconomic stability without external supervision.

“If after the exit of the IMF, we cannot manage our economy, then the IMF should bring their head office here and control us,” he stated.

His comments come as Ghana targets an exit from its current IMF-supported programme this year, following efforts to stabilise the economy after years of fiscal stress, currency depreciation, and rising debt levels.

According to the GNCCI CEO, the problem has never been the IMF itself, but Ghana’s inability to sustain reforms once programmes end. He noted that the country has already implemented several IMF-backed measures and must continue them even after exiting.

“This is because all the things that they have asked us to do, that we have done, I think we should continue,” he said.

Mr. Badu-Aboagye cautioned that Ghana’s frequent returns to the IMF reflect a deeper governance challenge, where difficult reforms are pursued under pressure but quickly abandoned afterward.

“There shouldn’t be any reason why we should deviate from these important fundamental changes that the IMF have brought to us; that is why we keep going there,” he stressed.

He pointed out that Ghana’s history of seeking IMF support—now about 17 times—should serve as a wake-up call for policymakers to strengthen institutions and enforce long-term economic discipline.

Mr. Badu-Aboagye also challenged the public narrative that often portrays IMF engagement as hostile, arguing that the Fund is typically invited to help address economic mismanagement.

“And anytime you go there, it’s as if the IMF is a devil, that when they come, we don’t want to go there,” he said.

He maintained that Ghana must take ownership of the reforms and treat them as national policy priorities, rather than measures imposed by external partners.

His remarks reflect growing calls from the business community for Ghana to consolidate economic stability and rebuild investor confidence. He stressed that exiting the IMF programme should not be seen as an end in itself, but as a turning point that demands stronger discipline, improved economic management, and sustained commitment to reforms already implemented.