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Economics and Finance lecturer at the University of Ghana Business School (UGBS), Professor Godfred Alufar Bokpin

Economist, Prof. Godfred Bokpin has pointed out that the country may not be able to fund priority sectors of the economy when the country exits the International Monetary Fund (IMF) programme in 2026 due a debt obligations of over ₵130 billion that will be reactivated.

Forecasting how events may pan out in the next 3 years, Prof. Bokpin warned that the situation could lead to a sharp cut in investment to the Agriculture sector, while independent power producers are denied payment if government intends to honour it debt servicing.

Speaking on the Super Morning Show on July 31, 2024, he stated that the private sector will be the hardest hit as cost of borrowing will be astronomically high.

“The conclusion is that there is no way we will be able to meet these financial obligations without altering our fiscal policy and financing decisions. We will only do so at great cost by crowding out priority spending in the area of budgetary allocation to agriculture, health, education and social protection”, he said.

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