An agreement has been finalized between the International Monetary Fund (IMF) and the Ghanaian government, granting approval for the fourth review of the country’s economic reform agenda.
As a result, Ghana is set to receive a loan disbursement of 370 million U.S. dollars under the ongoing 36-month Extended Credit Facility (ECF) arrangement. The announcement was made on Tuesday April 15, signalling continued international confidence in Ghana’s recovery efforts.
Commendation was expressed by Stephane Roudet, head of the IMF mission, who acknowledged notable progress within Ghana’s external sector. Export performance—especially in gold, and to a lesser degree, oil—along with increased remittances, was credited for the country’s accumulation of international reserves that has exceeded original programme projections. Additionally, economic growth for 2024 was reported to have surpassed earlier forecasts, bolstered in large part by robust activity in the mining and construction sectors.
Further assurance was given by the Governor of the Bank of Ghana, Johnson Asiama, who reaffirmed the central bank’s commitment to sound monetary governance in support of the IMF-backed reforms. A continuation of Ghana’s public debt restructuring efforts has also been emphasised as a priority, with authorities seeking to restore long-term fiscal stability. The successful completion of this review is expected to provide both financial reinforcement and a boost to investor confidence in the Ghanaian economy.