The World Bank’s Country Director for Ghana, Liberia, and Sierra Leone, Robert Taliercio, has advised Ghana to exercise caution before re-entering international capital markets, stressing that a premature move could jeopardize the country’s recent economic progress.

Speaking at the launch of the World Bank’s latest Public Finance Review report, Building the Foundations for a Resilient and Equitable Fiscal Policy, Taliercio emphasized that rushing back to the markets too soon could create uncertainty among investors. He warned that such a step might undo the benefits of Ghana’s debt restructuring efforts and expose the nation to high borrowing costs that could strain its financial stability.

His remarks come in the wake of Ghana’s successful restructuring of both domestic and external debts, which provided substantial relief through the $3 billion IMF Extended Credit Facility (ECF) programme. While recognizing these milestones, Taliercio urged policymakers to remain vigilant, cautioning that Ghana has, in the past, struggled with maintaining long-term fiscal discipline.

He stressed the need for prudent financial management to consolidate the gains made under the debt restructuring process, warning that any hasty financial decisions could have long-term consequences for the country’s economic resilience.

“The risk now is falling into complacency with these achievements and returning to a business-as-usual mindset – a recurring error in the past. Ghana has requested a record 17 IMF programs and has been under active IMF supervision for 40 out of its 68 years of independence,” he noted.

He further cautioned that hastily seeking dollar financing from international markets could backfire, leading to a resurgence of high borrowing costs and renewed economic instability.

Ghana has remained shut out of international capital markets since 2022, largely due to its mounting debt burden, slow economic growth, and fragile balance of payments.

Although the government is keen to restore investor confidence, the World Bank emphasized that a well-timed approach, coupled with strict fiscal discipline, will be essential to achieving sustainable economic stability..