{"id":332428,"date":"2025-04-24T07:34:17","date_gmt":"2025-04-24T07:34:17","guid":{"rendered":"https:\/\/www.ghanamma.com\/2025\/04\/24\/ghana-must-manage-its-natural-resource-wealth-judiciously-to-avoid-future-imf-bailouts-kwakye\/"},"modified":"2025-04-24T07:34:17","modified_gmt":"2025-04-24T07:34:17","slug":"ghana-must-manage-its-natural-resource-wealth-judiciously-to-avoid-future-imf-bailouts-kwakye","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2025\/04\/24\/ghana-must-manage-its-natural-resource-wealth-judiciously-to-avoid-future-imf-bailouts-kwakye\/","title":{"rendered":"Ghana must manage its natural resource wealth judiciously to avoid future IMF bailouts \u2013 Kwakye"},"content":{"rendered":"<p><\/p>\n<div>\n<p><strong>The Director of Research at the Institute of Economic Affairs (IEA), Dr John Kwakye, has provided tips on how to avoid future bailouts from the International Monetary Fund (IMF).<\/strong><\/p>\n<p>He suggests that Ghana must take ownership of its natural resource wealth and manage it judiciously.<\/p>\n<p>This would ensure that the needed revenue to develop the country is generated, he said.<\/p>\n<p>\u201cThe way for Ghana to avoid future IMF bailouts is to take ownership of its natural resource wealth and manage it judiciously,\u201d Dr Kwakye wrote on his X page.<\/p>\n<p>He stressed \u201cThe only way Ghana can avoid its dependence on foreign largesse is to take ownership of its vast natural resource wealth. And the time to do this is now!\u00a0 Not taking ownership of Ghana\u2019s vast natural resource wealth for the development of the country is no longer an option!<\/p>\n<p>\u201cCan you imagine that Ghana has: gold, diamonds, manganese, bauxite, lithium, uranium, copper, cobalt, nickel, silicate, iron ore, salt, oil, gas, etc. worth trillions of dollars? So, how can our \u201cpoverty\u201d not be self-inflicted?\u201d<\/p>\n<p><img loading=\"lazy\" class=\"aligncenter wp-image-482457 size-full br-lazy\" src=\"https:\/\/3news.com\/wp-content\/uploads\/2025\/04\/kwakye.gif\" decoding=\"async\" alt=\"\" width=\"964\" height=\"873\"\/><\/p>\n<p>Dr Kwakye\u2019s comments come at a time when the Minister for Finance, Dr Cassiel Ato Forson, clarified that the recent increases in electricity and water tariffs are part of Ghana\u2019s obligations under its ongoing program with the International Monetary Fund\u00a0(IMF).<\/p>\n<p>His comments come in the wake of the Public Utilities Regulatory Commission\u2019s (PURC) announcement of a 14.75% increase in electricity tariffs and a 4.02% rise in water charges, both set to take effect on May 3, 2025.<\/p>\n<p>Dr Ato Forson, speaking at a press conference in Accra on Tuesday, April 15, 2025 explained that the tariff adjustments were a requirement for Ghana to access the next $370 million tranche under the IMF deal.<\/p>\n<p>\u201cWe have begun the implementation, which you recently saw, the quarterly adjustment by PURC, which was supposed to have been done by last year. But we have ensured that it has been done in line with the statutory benchmark as agreed in the third review,\u201d he explained.<\/p>\n<p>Dr Ato Forson also responded to growing speculation about a possible renegotiation of Ghana\u2019s agreement with the IMF, making it clear that the government has no intention of revisiting the terms.<\/p>\n<p>\u201cRenegotiating presupposes that you don\u2019t believe in the program, and so you want to open up the conversation to look at other parameters of the program. That isn\u2019t the position of the government. The government is committed to the implementation to achieve the objectives of the IMF program,\u201d he said.<\/p>\n<p>The finance minister further acknowledged  that although some structural benchmarks and quantitative targets were missed prior to the current administration taking office, the government remains focused on meeting the program\u2019s goals moving forward.<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Director of Research at the Institute of Economic Affairs (IEA), Dr John Kwakye, has provided tips on how to avoid future bailouts from the International Monetary Fund (IMF). He suggests that Ghana must take ownership of its natural resource wealth and manage it judiciously. This would ensure that the needed revenue to develop the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":332429,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[],"class_list":{"0":"post-332428","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ghana must manage its natural resource wealth judiciously to avoid future IMF bailouts \u2013 Kwakye - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2025\/04\/24\/ghana-must-manage-its-natural-resource-wealth-judiciously-to-avoid-future-imf-bailouts-kwakye\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ghana must manage its natural resource wealth judiciously to avoid future IMF bailouts \u2013 Kwakye - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The Director of Research at the Institute of Economic Affairs (IEA), Dr John Kwakye, has provided tips on how to avoid future bailouts from the International Monetary Fund (IMF). 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