The International Monetary Fund (IMF) has begun its fourth review of Ghana’s economy under the Extended Credit Facility (ECF) programme, assessing progress on key reforms aimed at economic recovery.
Running from April 2 to April 15, the two-week mission will evaluate Ghana’s fiscal performance, inflation control, monetary policy, and structural reforms under the IMF-backed programme for 2023–2026.
The review commenced with high-level discussions at the Ministry of Finance and the Bank of Ghana, focusing on Ghana’s fiscal performance in 2024. Over the coming days, the IMF delegation will engage with senior government officials, Central Bank executives, and key stakeholders to assess whether Ghana is meeting IMF targets on fiscal discipline, economic stabilization, and debt restructuring.
The outcome of this review will determine Ghana’s eligibility for the next tranche of IMF financial support, which is crucial for maintaining macroeconomic stability and investor confidence.
Finance Minister Dr. Cassiel Ato Forson emphasized the government’s commitment to reforms, citing the passage of transformative tax amendment bills, public procurement reforms, and key policies outlined in the 2025 Budget as evidence of Ghana’s economic turnaround efforts.
Dr. Forson expressed confidence that with positive macroeconomic indicators, Ghana’s economy could stabilize by May 2025. He also underscored the importance of concluding the review on schedule to ensure continued IMF support.
The mission will include additional meetings and technical discussions over the next two weeks, with IMF to finally issue a statement on April, 15.
