Professor of Finance and Economics at the University of Ghana, Godfred Bokpin, has stated that the new government will not be able to fulfil its promises to Ghanaians under the current International Monetary Fund (IMF) programme that the country is committed to.

He believes that “the NDC knows very well that, despite their manifesto, their promises, to meet the aspirations of Ghanaians, and the election victory they secured, there is no way they will be able to deliver on their mandate under the existing IMF-supported programme.”

Prof. Bokpin emphasised, “If this is lost on them, then they have a long way to go,” referring to the John Mahama-led government on Joy FM's SMS on Tuesday, January 14.

He explained that the IMF programme comes with certain conditions, and these agreements may not align with the new government’s goals and promises. He added, “If you look at the IMF programme, by design and structure, it will constrain this government from delivering on its mandate.”

However, he advised that “our suggestion is not to walk away. The issue is that we must have a strategy to engage with the Fund. We need to be deliberate about which aspects of the programme we need to reassess.”

Before winning the 2024 December election, the NDC promised several things that will improve the standard of living of the masses, notable among them are; the establishment of the Women's Development Bank, Free Level 100 tuition for University students and 24-hour economy.

The government also promised to revoke some taxes and rationalise others.

The immediate past Akufo-Addo-led administration officially began negotiations with the IMF in July 2022 for a support package, focusing on a $3 billion Extended Credit Facility (ECF).

The package was designed to provide financing and policy support to help Ghana reduce its fiscal deficit, restructure its debt, strengthen its institutions, and restore macroeconomic stability.