Ghanaian economist Dr Samson Anomah has slammed the International Monetary Fund over its revised economic forecasts for the country, describing the projections as complete rubbish that fail to reflect the actual living conditions of ordinary citizens.
His comments follow the IMF’s latest economic outlook report, released during the Annual IMF/World Bank Meetings in Bangkok, Thailand.
In the report, the global lender revised Ghana’s 2026 economic growth forecast upward by 1.1 percentage points, moving from an earlier 4.6 per cent estimate to 5.7 per cent, while projecting year-end inflation at 4.8 per cent despite global pressures.
The Fund further anticipates growth to moderate to 5.2 per cent in 2027, with its 2026 outlook outpacing the government’s 4.8 per cent target set in the 2026 Budget.
However, speaking on Rainbow Radio 87.5FM’s flagship news programme, Nyankonton Mu Nsem, Dr Anomah dismissed these metrics as abstract numbers that yield no tangible benefits for the public.
He maintained that macroeconomic indicators such as gross international reserves, fiscal primary balances, and projected single-digit inflation mean nothing to citizens struggling under severe economic hardship.
Dr Anomah criticized the IMF’s tracking record, noting that the institution previously projected negative growth rates for Ghana in 2022 and 2023, only for the economy to post a 3.0 per cent expansion.
He stressed that any resilience displayed by the economy is natural rather than the result of deliberate policy interventions, even though strategic measures are essential to drive meaningful growth.
The economist accused the National Democratic Congress administration under President John Dramani Mahama of abandoning capital investments and starving the private sector of needed stimulus.
He stated that national budgetary allocations actively discourage domestic spending, pointing out that government strategy has over-indexed on dollar-denominated gold trading activities rather than strengthening local production or expanding the broader economy.
According to Dr Anomah, stabilizing foreign exchange rates at current levels hurts domestic manufacturers and limits real economic expansion.
He added that the initial 4 per cent growth forecast was closer to reality, whereas the newly revised figures remain speculative and disconnected from historical performance.
Expressing frustration over rising living costs, Dr Anomah questioned what purpose gross reserves serve when workers face stagnant wages, escalating fuel prices, inflated transport fares, high rent costs, and widespread unemployment.
“The government has halted economic investment while the private sector collapses under budgets that stifle domestic spending. Rather than driving real growth, policy has focused narrowly on gold trading to secure dollars, which damages local production despite currency stabilization efforts. These latest IMF figures are speculative forecasts that fail to reflect historical realities or deliver tangible economic benefits.”
“Macroeconomic metrics like gross international reserves, fiscal primary balances, and inflation targets offer zero relief to everyday Ghanaians. Reserves mean nothing when citizens face widespread joblessness, soaring fuel costs, inflated transport fares, and unaffordable rent. The IMF projections are totally bogus and rubbish—the NDC government has imposed severe hardship on Ghanaian workers.”
He added by asserting that the NDC remains the sole administration under which Ghanaian workers consistently endure severe economic hardship, labeling the IMF’s figures as completely bogus figures that deserve no consideration.
“Ghana’s economic resilience is inherent, not the result of government intervention. Historical precedent proves these IMF tracking models are flawed: in 2022 and 2023, the IMF projected negative growth, yet the economy expanded by 3 per cent. Unfounded revisions do not change daily survival in this country.”
By: Rainbowradioonline.com/Ghana
