The International Monetary Fund (IMF) has approved Ghana’s fourth review under its $3 billion Extended Credit Facility (ECF) programme, paving the way for the immediate release of $370 million to support the country’s ongoing economic recovery.
The approval by the IMF Executive Board follows a successful staff-level agreement reached in April, which confirmed that Ghana had met all necessary performance benchmarks under the programme. The new disbursement brings Ghana’s total receipts under the ECF to approximately $2.67 billion since the programme began in May 2023.
Finance Minister Dr. Cassiel Ato Forson welcomed the development, describing it as a strong vote of confidence in Ghana’s economic reform agenda.
“This disbursement reflects our unwavering commitment to fiscal discipline and strategic reforms that are delivering real results,” Dr. Forson said in a statement. “We are on a clear path to economic stability and growth.”
The IMF noted that Ghana’s macroeconomic policies and structural reforms continue to yield positive outcomes, with inflation declining, fiscal indicators improving, and international reserves being rebuilt. The Fund added that the new tranche of funding will further support the country’s efforts to stabilise the cedi, boost investor confidence, and strengthen public financial management.
The approval comes at a critical time, as Ghana continues to navigate a complex recovery from recent economic shocks and works to implement broader reforms in debt restructuring and domestic revenue mobilisation.
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