President of IMANI Africa, Franklin Cudjoe, has called on the government to remain committed to fiscal discipline and policy reforms as Ghana transitions into a new Policy Coordination Instrument (PCI) arrangement with the International Monetary Fund (IMF).

His comments follow social media claims questioning the legitimacy of the government’s planned engagement with the IMF under the PCI framework after the completion of Ghana’s Extended Credit Facility bailout programme.

The PCI arrangement, according to government officials, is a non-financing programme designed to provide policy guidance, technical support and investor confidence without direct financial disbursement from the IMF.

Authorities believe the framework will support Ghana’s long-term objective of attaining investment-grade status, which could reduce borrowing costs, attract foreign investment and improve access to affordable financing for both public and private sector development.

Mr Cudjoe stressed that the success of the programme would largely depend on the government’s consistency in implementing the required reforms and maintaining financial discipline.

“The PCI is a great economic diplomacy, a master stroke decision. If the government and the NDC commit to this, then they will avoid setbacks. There must be that discipline,” he said.

He also dismissed suggestions that the PCI framework was merely cosmetic or intended for public relations purposes.

“This is not window dressing, this is a programme signed up. This cannot be settings, don’t be swayed by social media wayward commentary, study the facts,” he added.

Mr Cudjoe further criticised the previous New Patriotic Party administration, arguing that many of the structural reforms promised under earlier IMF arrangements were never fully implemented.

Speaking on Citi FM on Saturday, May 16, he said, “Compare them with the NPP government, they had a ‘kenkey’ party and jumped on the jamboree. Seventy per cent of the structural shift they promised after renegotiation with the IMF didn’t come to pass.”

He maintained that the current PCI framework presents an opportunity for Ghana to strengthen economic credibility and restore investor confidence if properly managed.