The IMF, in its latest World Economic Outlook, projects a 4 percent GDP growth for Ghana by the end of 2025 — slightly below the World Bank’s 4.3 percent forecast. Both institutions maintain a cautiously optimistic stance as Ghana continues to implement reforms under its economic recovery programme.

But Professor Quartey, an economist and former Director of the Institute of Statistical, Social and Economic Research (ISSER), believes Ghana has the potential to exceed these targets if ongoing fiscal and structural reforms are sustained.

He explained that while the Bretton Woods institutions often take a conservative approach to their forecasts, Ghana’s economic resilience and improving fundamentals could deliver stronger-than-expected growth outcomes.

“Certainly the IMF and the World Bank are often cautiously optimistic; they don’t want to project so high numbers that only for you not to achieve,” he said.

“But as a country, oftentimes we have gone beyond their projections, all things being equal, and I believe we will go beyond the 4% they are projecting.”

However, Prof. Quartey cautioned that Ghana’s pursuit of growth must not come at the cost of environmental sustainability, pointing to the growing threat of illegal mining, or galamsey.

“Our environmental growth accounting has to be taken seriously. You can grow by 10 percent, but if you destroy your environment, water bodies, and poison your food sources, it is not something to celebrate about.”

Prof. Quartey made the remarks in an interview with Citi Business News on the sidelines of a symposium held in honour of Emeritus Professor Ernest Aryeetey at the University of Ghana.

The symposium, held under the theme “Placing Research at the Centre of Higher Education in Africa,” celebrated the outstanding legacy of Emeritus Professor Ernest Aryeetey, a distinguished economist and former Vice-Chancellor of the University of Ghana.

Professor Aryeetey’s appointment as Vice-Chancellor in 2010 marked the beginning of a transformative era for the institution. During his six-year tenure, he spearheaded bold reforms aimed at strengthening the university’s research capacity, governance structures, and global partnerships.

His forward-thinking leadership saw the expansion of graduate programmes, faculty development initiatives, and the establishment of strategic collaborations with leading universities across the world.

A central pillar of his vision was to position the University of Ghana as a research-intensive institution capable of driving Ghana’s structural transformation and contributing meaningfully to Africa’s broader development agenda.

He championed the role of higher education as a catalyst for innovation and sustainable growth, advocating for research that directly supports policy development, industry needs, and national progress.

Professor Aryeetey’s leadership was distinguished by his pursuit of excellence, inclusivity, and long-term institutional reform — qualities that continue to inspire academic and policy circles across the continent.