• About
  • Advertise
  • Privacy Policy
  • Contact
Monday, October 20, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

IMF Deal: Bokpin Cautions Gov’t Not To Be Overly Optimistic

M.Cby M.C
June 20, 2023
Reading Time: 3 mins read
M.Cby M.C
in Finance
0
IMF Deal: Bokpin Cautions Gov’t Not To Be Overly Optimistic

Prof. Godfred Bokpin

Godfred Bokpin, a professor at the University of Ghana Business School, has issued a warning against having too much high hopes for Ghana’s economic revival as a result of the $3 billion IMF initiative.

He suggested that the economic recovery will be hard and gradual. Prof. Bokpin was commenting on the program update provided by Finance Minister Ken Ofori-Atta.  The program, according to the finance minister, “significantly paved the way” for the execution of an ambitious and well-planned reform agenda for the economy and nation.

In response, Prof. Bokpin stated that if the program’s structure is examined, it may be shown that Ghana actually began several of the list’s programs prior to the board’s approval.

RelatedPosts

Zenith Bank Ghana at 20: CEO Henry Onwuzurigbo Pledges New Era of Innovation and Excellence

BoG Ends UBA’s FX Suspension After Satisfactory Remedial Measures

Forbes Crowns Standard Bank as Africa’s #1 Employer and Among World’s Best

He further said that all utility adjustments that are currently in effect were carried out in the past before board permission. From the standpoint of the Finance Minister, though, “I think generally we seem to be overly optimistic,” he emphasized.

“I think we need to be cautious because the recovery is going to be slow, it is going to be painful, you need to look at this within context also.  I think if you look at Ghana’s inflation probably, it is one of the highest in Africa; food inflation and the rest of them, and typically if that is coming down, we say it is good news but it is still very high.

“If you are celebrating inflation at 42.2 percent, by world average it is still very (high) especially if you look at food inflation.”

Godfred Bokpin

Akufo-Addo Should Reduce Number Of Ministers Or Resign

The Professor demanded that President Akufo-Addo resign due to his incapacity to manage efficiently with a cabinet that might include up to 40 ministers.

The International Monetary Fund (IMF) Program that the nation secured, according to Professor Bokpin, is not a permanent fix for the economic issue and that other measures must be put in place to supplement the IMF’s suggestions.

ADVERTISEMENT

According to Professor Bokpin, in order to handle the catastrophic economic situation, the government should limit the number of ministries and abolish pointless institutions. To reduce government spending, he advises merging some ministries and implores the President to act appropriately.

However, since perfection is unachievable, the Professor thinks it is needless to look for flawless people to lead the nation. Instead, he places a focus on the necessity of efficient government with fewer ministers and a smaller budget, even proposing the sale of luxury cars.

He also expressed doubt about the IMF’s ability to help economies change, claiming that the institution does not have even one case study of effective economic reform. He notes that Ghana is currently facing difficulties, despite having earlier received accolades for its IMF efforts.

Professor Bokpin highlighted the significance of Ghana choosing particular interventions and tactics to implement the broad fiscal policy framework recommended by the IMF in light of these worries. He urges the government to adopt aggressive actions since he thinks that relying entirely on the IMF will not produce the desired economic transformation.

READ ALSO: NPP Gov’t Is Attempting To Interfere In Gyakye Quayson’s Court Case- Mustapha Gbande

Tags: ghanaIMFMinistry of FinancePresident Nana Addo Dankwa Akufo-AddoProf. Godfred Bokpin
Please login to join discussion
Previous Post

Germany Urges China To Exert Its Influence On Russia To End Ukraine War

Next Post

Gov’t Numbed By Easiness With Which They Can Contract Loans- Prof Agyeman-Duah

Subscription Form

Related Posts

Zenith Bank Ghana at 20: CEO Henry Onwuzurigbo Pledges New Era of Innovation and Excellence
Banking

Zenith Bank Ghana at 20: CEO Henry Onwuzurigbo Pledges New Era of Innovation and Excellence

October 19, 2025
BoG Ends UBA’s FX Suspension After Satisfactory Remedial Measures
Banking

BoG Ends UBA’s FX Suspension After Satisfactory Remedial Measures

October 18, 2025
Forbes Crowns Standard Bank as Africa’s #1 Employer and Among World’s Best
Banking

Forbes Crowns Standard Bank as Africa’s #1 Employer and Among World’s Best

October 17, 2025
First National Bank Celebrates 10 Years of Transforming Banking in Ghana
Banking

First National Bank Celebrates 10 Years of Transforming Banking in Ghana

October 17, 2025
ADB Partners GhIPSS to Revolutionize Payments with Near Real Time (NRT) Transfers
Banking

ADB Partners GhIPSS to Revolutionize Payments with Near Real Time (NRT) Transfers

October 16, 2025
UBA Ghana Defies Market Pressures, Posts GH¢1.08 Billion Earnings in Q3 2025
Banking

UBA Ghana Defies Market Pressures, Posts GH¢1.08 Billion Earnings in Q3 2025

October 15, 2025
US special Envoy, Steve Witkoff.
Asia

Witkoff, Kushner Arrive In Israel Amid Fragile Ceasefire

by Comfort AmpomaaOctober 20, 2025
Gasoline Pumps
Extractives/Energy

Fuel Prices Drop: Petrol at GH¢12.77, Diesel GH¢12.97 

by Prince AgyapongOctober 20, 2025
Hon. Kwabena Mintah Akandoh
General News

Ghana’s Nurse Export Deal Tests the Balance Between Jobs and Care

by Silas Kafui AssemOctober 20, 2025
Israel Urged To Open More Gaza Border Crossings To Allow Aid
Asia

Gaza’s Fragile Truce Echoes Past Failures

by Comfort AmpomaaOctober 20, 2025
NPP’s Reform Agenda Faces Questions Over Clarity and Consistency
General News

United Party Plus or Minus? The Struggle to Break Ghana’s Duopoly

by Silas Kafui AssemOctober 20, 2025
Professor Stephen Kwaku Asare
General News

Ghana’s Party Primaries Lose Ideological Depth – CDD-Ghana Fellow Warns of Democratic Decay 

by Evans Junior OwuOctober 20, 2025
US special Envoy, Steve Witkoff.
Gasoline Pumps
Hon. Kwabena Mintah Akandoh
Israel Urged To Open More Gaza Border Crossings To Allow Aid
NPP’s Reform Agenda Faces Questions Over Clarity and Consistency
Professor Stephen Kwaku Asare

Recent News

US special Envoy, Steve Witkoff.

Witkoff, Kushner Arrive In Israel Amid Fragile Ceasefire

October 20, 2025
Gasoline Pumps

Fuel Prices Drop: Petrol at GH¢12.77, Diesel GH¢12.97 

October 20, 2025
Hon. Kwabena Mintah Akandoh

Ghana’s Nurse Export Deal Tests the Balance Between Jobs and Care

October 20, 2025
Israel Urged To Open More Gaza Border Crossings To Allow Aid

Gaza’s Fragile Truce Echoes Past Failures

October 20, 2025
NPP’s Reform Agenda Faces Questions Over Clarity and Consistency

United Party Plus or Minus? The Struggle to Break Ghana’s Duopoly

October 20, 2025
Professor Stephen Kwaku Asare

Ghana’s Party Primaries Lose Ideological Depth – CDD-Ghana Fellow Warns of Democratic Decay 

October 20, 2025
The Vaultz News

Copyright © 2025 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2025 The Vaultz News. All rights reserved.

Discover the Details behind the story

Get an in-depth analysis of the news from our top editors

Enter your email address