Stanbic Bank Chief to Gov’t: Fix the Economy, But Don’t Forget the Private Sector

“It’s not just about pressing the reset button—it’s about making sure that reset actually leads somewhere,” he said. “We must revive real growth, keep it inclusive, and bring back macro stability. But without steady fiscal adjustment and concessional financing, we risk running into debt problems sooner than we think.”

His advice comes hot on the heels of the 2025 Budget presentation, where Finance Minister Cassiel Ato Forson announced plans to scrap some taxes in a bid to support struggling businesses. A great move, according to Mr. Qureishi—but one that must be balanced carefully.

“You can’t throw out fiscal discipline while trying to help the private sector,” he warned. “We still need the IMF on our side—they’re our anchor in this consolidation journey.”

With Ghana staring down the barrel of major debt maturities in 2027 and 2028, Qureishi emphasized that the IMF’s continued support will be key. But the government can’t afford to ignore the heartbeat of the economy—the private sector.

“Businesses are facing real challenges, and removing some of those tax burdens is definitely the right step,” he said. “But the real win is creating an environment where businesses don’t just survive—they thrive.”

In his closing thoughts, Qureishi made it clear: Ghana’s comeback story depends on striking the right balance.

“Fiscal prudence is non-negotiable. But bold, pro-business policies are just as important. If the government can walk that tightrope, Ghana’s economic reset might just become a success story.”