Sagnarigu MP Atta Issah has defended Ghana’s request for a new International Monetary Fund (IMF) Policy Coordination Instrument (PCI), saying the arrangement will restore investor confidence and signal economic discipline.
Speaking on TV3’s Hot Issues, the lawmaker said the PCI differs sharply from the Extended Credit Facility (ECF) Ghana relied on during its recent debt crisis. He stressed that the new programme carries no fresh loans, no bailout funds, and no spending limits tied to government employment plans.
Ghana announced on May 15, 2026 that it had completed its IMF bailout and applied for a new PCI lasting 36 months, expected to run until mid 2029. The earlier programme came alongside the Domestic Debt Exchange Programme (DDEP), which battered pension funds, bondholders, and financial institutions.
“PCI does not restrict government on its ability to create jobs for our people,” Issah said.
The MP argued that the new arrangement would help Ghana negotiate better borrowing terms abroad and reassure creditors that fiscal reforms remain on track. He pointed to recent upgrades from Fitch and Moody’s as evidence that international markets are warming again to Ghanaian assets.
Issah recalled that Ghana was effectively shut out of global capital markets in 2022 when its sovereign debt was rated as junk. Returning to that position, he warned, would prove far costlier than keeping IMF oversight for another three years.
He rejected claims that the PCI could throttle the government’s job creation drive. Ongoing initiatives such as the Ijumaa programme, public sector recruitment, and entrepreneurship support, he said, will continue under the new framework.
On household welfare, the MP said falling inflation was already lifting purchasing power even without direct cash transfers. He cited slower price increases on staples such as rice and mobile phones, while conceding that fuel and energy costs remain a worry for many families.
The PCI, he added, is mainly designed to attract investment into productive sectors, reduce import dependence, and expand Ghana’s export base.
