PUWU Challenges IMF, World Bank: Ghana Can Fix Energy Sector With Homegrown Solutions

The Public Utilities Workers Union (PUWU) has thrown down the gauntlet, insisting that Ghana has the capacity to fix its troubled energy sector without becoming overly dependent on the International Monetary Fund (IMF) and the World Bank.

PUWU Deputy General Secretary Enoch Paul Hayes says the country must have greater confidence in its ability to tackle the structural problems affecting the power sector rather than continuously looking to international financial institutions for solutions.

Speaking on Joy FM’s PM Express, Mr Hayes argued that Ghana’s energy challenges require a closer examination of the cost of power generation, particularly the pricing arrangements involving Independent Power Producers (IPPs).

‘We Don’t Always Need the IMF’

Mr Hayes made a strong case for homegrown solutions, stressing that Ghana has the evidence and capacity needed to address its own economic and energy challenges.

His comments come amid ongoing discussions about reforms in the energy sector and the role of international institutions in shaping Ghana’s policy direction.

According to him, the country should not automatically assume that assistance from the IMF or World Bank is the only path to resolving its energy-sector problems.

PUWU Questions Focus on ECG

The union is also challenging what it considers an excessive focus on the Electricity Company of Ghana (ECG).

PUWU argues that attention must extend beyond ECG to the cost of electricity purchased from IPPs, which it considers a critical part of the sector’s financial difficulties.

Mr Hayes questioned why the pricing of power supplied by IPPs has not received sufficient attention in the ongoing energy-sector discussions.

‘Fix the Real Problem’

For PUWU, tackling Ghana’s energy crisis requires confronting the structural weaknesses within the sector rather than concentrating on a single institution.

The union’s position comes as Ghana continues efforts to stabilise the energy sector and address financial pressures linked to power generation and supply.

Government has previously announced significant steps to clear energy-sector debts. The Finance Ministry said in January 2026 that the government had paid US$1.47 billion to address energy-sector debt and restore a World Bank guarantee.

IMF, World Bank Put on Notice

PUWU’s latest comments could intensify the debate over how Ghana should approach energy-sector reforms and the extent to which external institutions should influence those reforms.

While the IMF and World Bank have supported various aspects of Ghana’s economic and energy-sector programmes, PUWU believes Ghana must take greater ownership of solving its problems.

The union’s message is clear: Ghana should look inward, confront the structural problems in the energy sector and develop sustainable solutions instead of relying too heavily on external institutions.

The debate over the future of Ghana’s energy sector is therefore far from over, with the cost of power generation, IPP agreements and the financial sustainability of the sector likely to remain major issues in the months ahead.