Chief Executive Officer of Dalex Finance, Joe Jackson, has urged the government to take concrete steps to curb excessive spending and unrealistic political promises if Ghana is to avoid returning to the International Monetary Fund for another bailout programme.
According to him, failure to control indiscriminate expenditure and borrowing could force the country back to the IMF despite government assurances that Ghana will not seek another bailout.
Speaking on The Big Issue on Channel One TV on Saturday, May 16, 2026, Jackson said government borrowing should be targeted at productive investments capable of generating returns for the economy.
He cautioned against borrowing to finance recurrent expenditure such as salaries, allowances and events.
“Even if the government is intending to borrow, it must be to invest in the economy which will yield returns and not to borrow to pay salaries, allowances or host events,” he said.
Beyond fiscal discipline, Jackson also criticised what he described as the tendency of political leaders to overpromise during election campaigns.
“We seem to think that we can do everything for our population. We promise them during elections and when we get to power all we do is spend and spend,” he stated.
Using a family analogy, Jackson said irresponsible spending without savings or sustainable revenue generation could worsen the country’s economic situation.
“If as a father, I promise my children and all I do to fulfil those promises is to spend my money without saving, now I have to borrow and keep borrowing. What am I doing for the children?” he questioned.
He stressed that governments must align expenditure with available revenue and avoid committing to programmes that cannot be sustainably financed.
“So, those in power must spend within their means, and they must have revenue to back it,” he added.
