By Issah Mohammed, GNA
Accra, May 22, GNA – Professor Godfred Alufar Bokpin of the University of Ghana has warned that environmental degradation and climate induced disasters could be major triggers to future economic crisis in Ghana.
He, therefore, recommended that government entered the International Monetary Fund’s (IMF) Resilience and Sustainability Facility (RSF) programme to help the country deal with the economic implication of climate induced crisis and environmental degradation.
The economist and professor of finance noted that the RSF, which could be anchored on the recently announced Policy Coordination Instrument programme could be used to address environmental and climate related issues.
“The next major crisis Ghana will face may not come from the traditional ones but may come more from coastal erosion and environmental degradation,” he said.
“We are pretending we are fighting illegal mining, but we need to have a credible programme with clear indicators, which we can track either on monthly or quarterly, half yearly or yearly bases.”
Prof Bokpin was speaking at the 2026 Pension strategy Conference, on the topic: “Navigating Ghana’s Post-IMF Transitions: Historical Perspectives and Future Prospects.”
He commended the Government for the Policy Coordination Instrument programme with the IMF, stating that “we are not at the stage where we can be on our own and we need to have that external policy anchor.”
Prof Bokpin however urged government to make public the details of the reforms to be implemented under the programme to enable better assessment of its impact on the Ghanaian economy.
According to the IMF, the Resilience and Sustainability Facility provides affordable and longer-term financing to support low-income and vulnerable middle-income countries that are undertaking macro-critical reforms to reduce risks to prospective balance of payment stability, including those related to climate change and pandemic preparedness.
Held on the theme: “Renewing the Ghanaian Pension Promise: Promoting Confidence, Resilience and Sustainable Growth,” the conference brought together key stakeholders to examine the evolving investment landscape and the future direction of pension fund management in Ghana.
The event comes at a pivotal moment for the industry following a period of macroeconomic instability, inflationary pressures and debt restructuring that tested pension portfolios and intensified discussions around diversification.
GNA
Edited by Agnes Boye-Doe
Reporter: Issah Mohammed