The International Monetary Fund (IMF) Resident Representative for Ghana, Dr Adrian Alter, has described Ghana’s recent economic stability as real but not yet self-sustaining, cautioning that maintaining the gains will be crucial to attracting long-term investment.
Speaking at the Ghana Economic Forum organised by the Business and Financial Times (B&FT), Dr Alter stressed the need for Ghana to demonstrate that its improving economic conditions could be sustained over the next five to ten years to strengthen investor confidence.
He noted that Ghana’s economy recorded an average growth rate of 6.2 per cent in the first half of 2026, following a strong economic performance in 2025, with investment emerging as a major contributor to the expansion.
Inflation also averaged 5.5 per cent at the end of October 2026, bringing it close to the Bank of Ghana’s target band.
On fiscal performance, Dr Alter indicated that the country was on course to achieve its primary balance target of a surplus equivalent to 1.5 per cent of Gross Domestic Product (GDP), reflecting a faster-than-anticipated pace of fiscal adjustment.
Despite these positive indicators, he cautioned that investors remained concerned about the durability of Ghana’s economic recovery, particularly whether the current stability represented a temporary improvement or the beginning of a sustained period of economic resilience.
“Ghana’s stability is real, but it isn’t yet self-sustaining,” he stressed.
Dr Alter explained that long-term investors typically operate with investment horizons of five years or more and therefore require confidence that the country’s economic conditions and policy environment will remain stable and predictable.
He identified policy continuity, consistency and predictability as essential factors in strengthening investor confidence and attracting sustainable long-term investment into the Ghanaian economy.
His remarks highlight the importance of consolidating the country’s recent economic gains through disciplined fiscal management, consistent policies and measures that strengthen macroeconomic resilience.
For Ghana, the challenge now extends beyond restoring economic stability to ensuring that the progress achieved can be maintained over the long term to support investment, business expansion and sustainable economic growth.
