The World Bank has advised Gha­na to be inten­tional and bold about breaking away from its repeated reliance on International Monetary Fund (IMF) loan-sup­ported programmes.

Experts have acknowledged the efficacy of IMF-supported programmes but argue that its short-term orientation does not meet the sustainable macroeco­nomic stability needs of Ghana.

Accentuating this, the World Bank said the country could only achieve long-term economic transformation through fiscal discipline, sound governance, and structural reforms.

In the Bank’s latest Policy Notes on the country, titled “Transforming Ghana in a Gen­eration,” it underscored an urgent need for reform, saying, “Ghana must break from past governance failures marked by fiscal indisci­pline, inefficiency, and repeated IMF programmes.”

The report indicated that Ghana could sustain growth above 6.5 per cent and triple its per capita income by 2050 if it adopted bold policies and strengthened institutions, citing weak structural transformation and heavy dependence on natural resources as a challenge.

The policy notes outlined four critical foundations for driving Ghana’s transformation: restoring macro-financial stability, boosting productivity and jobs, sustainable management of natural resources and resilience in agriculture and infrastructure, and reinforcing governance.

That required the country to boost revenue collection, strengthen expenditure manage­ment, and undertake reforms in key sectors like energy and cocoa to reduce fiscal risks.

The report also called for an enhanced business environment that attracted investment in high-productivity sectors, while improving education, health, and social protection to build human capital.