By: Akua Oteng Amponsah
Ghana has reached a significant milestone in its economic recovery efforts, securing a staff-level agreement with the International Monetary Fund (IMF) on the fifth review of its three-year Extended Credit Facility program.
This agreement paves the way for Ghana to access approximately $385 million in funding, bringing the total amount disbursed to around $2.8 billion.
Ghana’s economy is showing strong signs of recovery, with growth projected at 4.8% in 2026 and inflation expected to remain within the Bank of Ghana’s target band of 8.2%.
Ghana’s debt trajectory has improved markedly, thanks to a stronger macroeconomic outlook and continued fiscal discipline. Bilateral agreements have been concluded with five countries, and negotiations with remaining commercial creditors are ongoing.
The government remains committed to strengthening public financial management, boosting domestic revenue, and entrenching fiscal discipline.
The Bank of Ghana has developed a framework to manage foreign exchange flows and build reserves while reducing market volatility. State-owned banks are being restructured, and recapitalization is expected to be completed by the end of 2025.
Mr. Ruben Atoyan, IMF Mission Team Leader stated that “Macroeconomic stabilization is taking root, growth in the first half of 2025 was stronger than anticipated, supported by services and agriculture.”
The IMF also commended Ghana’s progress in addressing long-standing challenges in the energy sector and its commitment to fiscal discipline.
