Work

Ghana and the IMF: Policy shifts, economic bailouts and macroeconomic outcomes

Year: 2024

Type: article

Abstract: Ghana has a long history of engagement with the IMF. Successive governments of Ghana have sought economic bailouts from the IMF due to worsening domestic macroeconomic stability. This paper examines Ghana’s historical engagement with the IMF and the associated macroeconomic outcomes, and offers lessons for economic restructuring and growth beyond the bailouts . The paper explores the common patterns of the key macroeconomic variables and possible latent causal effects. The results reveal intermittent and short-term effects of the IMF programs. The bailouts often have a short-term impact on macroeconomic stability and growth, but the effects are unsustainable in the long term, especially after the IMF program ends.

Source: Journal of Policy Modeling

DOI: 10.1016/j.jpolmod.2024.07.006

Author: Suale Karimu

Institution: Sheffield Hallam University

Language: English

Topic: International Development and Aid

Subfield: Development

Field: Social Sciences

Domain: Social Sciences

SDG: Decent work and economic growth

Open Access status: hybrid

Estimated APC paid: $1,500