The International Monetary Fund (IMF) has approved Ghana’s Fourth Review under the Extended Credit Facility (ECF) Programme, releasing a $370 million disbursement to support the country’s reform-driven economic recovery.
This latest tranche, announced by Finance Minister Dr Cassiel Ato Forson, on July 7, marks a significant milestone in Ghana’s path toward fiscal stability and is seen as a strong endorsement of the Government’s macroeconomic policies and reform strategies.
The minister underscored that the IMF’s decision affirms Ghana’s progress in restoring economic balance through fiscal discipline, sound debt management, and robust structural reform.
The IMF’s decision follows a comprehensive assessment of Ghana’s performance against key program benchmarks, including fiscal consolidation, debt sustainability, and structural reform implementation. Entering the ECF Programme in response to mounting fiscal challenges, Ghana has focused on narrowing the deficit and fortifying its economic framework. The $370 million disbursement is expected to play a vital role in supporting budget execution, safeguarding essential public services, and sustaining reform momentum, thereby reinforcing the government’s commitment to long-term economic resilience.
Finance Minister Forson hailed the approval as a pivotal moment in Ghana’s recovery trajectory, asserting that the reforms underway are not only meeting expectations but surpassing them. As the country continues to court investor confidence and reposition itself on the global economic stage, this latest IMF endorsement is being interpreted as a clear signal of renewed international faith in Ghana’s financial stewardship. The successful completion of the fourth review sends a reassuring message to markets and development partners alike: Ghana’s economic renaissance is underway, and its reform agenda is firmly on course.