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By Samuel Asamoah
The Centre for International Maritime Affairs, Ghana (CIMAG) has commended the Government of Ghana following the country’s successful completion and formal exit from the International Monetary Fund’s Extended Credit Facility programme, describing the development as a major boost for the maritime, ports and logistics sectors.
In a statement issued on May 20, CIMAG said Ghana’s exit from the IMF-supported programme signals renewed macroeconomic stability, improved fiscal discipline and growing investor confidence, creating fresh opportunities for trade and economic growth.
According to the maritime policy think tank, declining inflation and reduced exchange rate volatility are expected to ease operational pressures on importers, exporters and freight forwarders by lowering costs and improving pricing predictability in international trade transactions.
CIMAG noted that the improved economic outlook would strengthen Ghana’s competitiveness as a preferred trade and logistics gateway within the West African sub-region.
The organisation further indicated that reduced debt servicing pressures could create fiscal space for government and private sector investments in critical port infrastructure, particularly at Port of Tema and Port of Takoradi, as well as dry ports and logistics facilities across the country.
It said such investments would help reduce vessel turnaround times, improve operational efficiency and lower handling costs within the maritime sector.
CIMAG also projected stronger private sector participation and increased public-private partnerships in shipping, warehousing and port services as economic conditions stabilise.
The organisation added that improved credit ratings and lower borrowing costs could enable shipping companies, logistics firms and small and medium-scale enterprises operating within the port ecosystem to secure financing for fleet expansion, equipment acquisition and digitalisation initiatives.
The Executive Director of CIMAG, Albert Derrick Fiatui, urged government to sustain prudent fiscal management and channel the gains from the IMF programme into targeted reforms within the maritime and transport sectors.
He identified priority areas including the reduction of non-tariff barriers, faster port clearance processes, implementation of the National Maritime Transport Policy, support for local content development and deeper digitisation of port and customs operations.
“The successful exit from the IMF programme is not an end, but a foundation,” Mr. Fiatui stated. “If matched with deliberate reforms in the maritime sector, it can translate into lower cost of trade, more jobs, and stronger regional trade integration under AfCFTA.”
CIMAG reaffirmed its commitment to providing evidence-based policy support aimed at ensuring Ghana’s maritime sector fully benefits from the country’s renewed economic stability and development agenda.
