Ghana has successfully concluded its three-year economic reform programme with the International Monetary Fund (IMF), following the approval of the country’s sixth and final review under the Extended Credit Facility (ECF) by the Fund’s Executive Board.
The decision, taken at the IMF Board meeting in Washington, D.C., on Thursday, clears the way for the immediate disbursement of more than US$300 million, which is expected to be credited to the Bank of Ghana in the coming days.
Reliable information from the Ministry of Finance also indicates that the IMF Executive Board approved Ghana’s request for a new Policy Coordination Instrument (PCI), providing a framework to support the country’s next phase of economic reforms after the completion of the ECF programme.
In addition, the Board endorsed Ghana’s 2026 Article IV Consultation, approved a waiver for the non-observance of the performance criterion relating to the cost-sharing arrangement for GoldBod operations, and completed the country’s Financing Assurances Review.
The approvals represent a major milestone in Ghana’s economic recovery efforts, formally bringing to an end the Extended Credit Facility programme that commenced in 2023 to restore macroeconomic stability, rebuild investor confidence and implement wide-ranging structural reforms.
The successful completion of the programme is expected to reinforce confidence among investors and development partners, while enhancing Ghana’s prospects for improved sovereign credit ratings and stronger access to international capital markets.
The newly approved Policy Coordination Instrument will provide continued policy guidance and monitoring without direct financial support, helping the government sustain fiscal discipline, strengthen macroeconomic stability and advance ongoing structural reforms.
The latest IMF decision is widely viewed as a strong endorsement of Ghana’s economic management and reform efforts, signalling confidence in the country’s ability to consolidate recent macroeconomic gains while maintaining policy credibility beyond the completion of the Extended Credit Facility programme.
Source: businesspostonline
