Historically, Ghana has had its fair share of financial crises with evolving natures and causes. For 17 times since independence, the country has faced financial challenges that have led to financial bailouts from the International Monetary Fund (IMF). The nature of these financial crises, the IMF solutions applied to them, and their implications for future recurrences have not been carefully addressed. Hence, the main objective of this study is to gain new insights into the risk factors and causes of the 17 financial crises in Ghana and recommend some permanent solutions. From the analyses, it can be concluded that worsening fiscal deficits and the external sector represented by sharp decline in international reserves, predate the occurrence of most of the early financial crises in Ghana (1966 to 1983). The financial crises during the 1980s and 1990s were responses to a mix of external (increasing external debts and global economic shocks) factors and internal macroeconomic factors. Within the first decade of the fourth republic.........