Ghana’s economic stability is real but not yet self-sustaining – IMF

The International Monetary Fund (IMF) Resident Representative for Ghana, Dr. Adrian Alter, says Ghana’s recent economic stability is real but not yet self-sustaining, warning that maintaining the gains will be critical to attracting long-term investment.

Speaking at the Ghana Economic Forum organised by the Business and Financial Times (B&FT), he said the country must demonstrate that its improving economic conditions can be sustained over the next five to ten years to build investor confidence.

He noted that economic growth averaged 6.2% in the first half of 2026, following a strong performance in 2025, with investment serving as a major driver.

Inflation also averaged 5.5% at the end of October, bringing it close to the Bank of Ghana’s target band.

Dr. Alter said the primary balance was also on track to meet its target of a 1.5% of GDP surplus, reflecting faster-than-anticipated fiscal adjustment.

However, he said investors were concerned about whether the current stability represented a one-off improvement or could be maintained over the long term.

“Ghana’s stability is real, but it isn’t yet self-sustaining,” he stressed.

He explained that investors typically operate with investment horizons of five years or more and therefore require assurances that the country’s economic and policy environment will remain predictable.

Dr. Alter identified policy continuity and predictability as key conditions for attracting long-term investment into Ghana.