Director of the Legon Centre for International Affairs and Diplomacy (LECIAD), Professor Peter Quartey, also the immediate past Director of the Institute of Statistical, Social and Economic Research (ISSER), has cautioned that Ghana’s exclusion from United States foreign assistance in the 2026 financial year should serve as a sobering reminder of the dangers of poor economic management.
The United States recently announced that Ghana is ineligible to receive funding under the Millennium Challenge Compact due to the country’s debt default and unfinished restructuring process.
The decision is backed by Section 7012 of the FY2025 State, Foreign Operations, and Related Programs Appropriations Act (SFOAA).
Professor Quartey, in an interview on Joy FM‘s Middaynews on Tuesday, September 9, said the suspension is not only a blow to development projects but also a warning about the consequences of reckless fiscal behaviour.
“This is a lesson to us, not to mess up our economy, not to borrow and fail to repay. We should also learn from what has happened, not to be aid dependent, because if we have been so dependent on this money, I believe it will have to severe repercussions on Ghana,” he cautioned.
Professor Quartey further warned that the suspension will deprive Ghana of critical benefits that have historically boosted infrastructure and energy projects.
“This decision is certainly going to affect us. In the past, we benefited from major US support, such as the N1 motorway, energy sector improvements, and upgrades of substations. Missing out means we will feel the negative consequences of not having such assistance,” he said.
He explained that the disqualification stemmed from Ghana’s failure to meet repayment obligations and delays in concluding its debt exchange programme.
While expressing optimism that negotiations would be finalised by next year, he stressed that the episode highlights the importance of sound economic discipline.
“Hopefully, by next year, these negotiations will be concluded and Ghana can tap into external resources again,” he assured.