The International Monetary Fund (IMF) Executive Board has approved the Fourth Review of the programme under the Extended Credit Facility (ECF) in Ghana, paving the way for the disbursement of a significant $370 million to support the country’s economic recovery and development efforts.
This landmark approval serves as a powerful endorsement of Ghana’s steadfast commitment to fiscal discipline and comprehensive economic reform. The disbursement, expected to bolster Ghana’s foreign reserves and overall economic stability, marks another key milestone in the country’s ambitious economic transformation agenda.
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According to the Minister of Finance, Cassiel Ato Forson, the approval reflects the positive impact of its macroeconomic policies and structural reforms, which are yielding tangible results.
In an X post, he said “Our comprehensive macroeconomic policies and carefully crafted structural reforms are delivering real results that the international community recognizes and supports.”
The ECF programme, which Ghana entered into in May 2023 to stabilize its economy amidst global shocks and domestic fiscal challenges, has become a cornerstone of the country’s recovery plan. The Fourth Review’s approval indicates that Ghana is not only meeting but exceeding the IMF’s benchmarks and performance criteria.
“Today marks another decisive step forward in Ghana’s economic recovery journey,” he emphasised.
“It demonstrates that our reform agenda is not just working — it’s exceeding expectations and rebuilding confidence in our nation’s financial future,” he added.
The IMF’s endorsement is expected to send strong positive signals to investors, development partners, and the private sector. With this renewed backing from the Fund, Ghana is poised to accelerate its path toward debt sustainability, resilient growth, and inclusive development.
As Ghana continues to implement reforms under the ECF framework, the government has reiterated its commitment to transparency, accountability, and sound economic management — principles it sees as essential to securing a brighter and more stable economic future for all Ghanaians.
The IMF Executive Board has just approved Ghana’s 4th Review under the ECF Programme, clearing the path for a substantial $370 million disbursement!
This landmark approval validates Ghana’s unwavering commitment to fiscal discipline and strategic economic transformation.
Our… pic.twitter.com/qqksOjpwDF
— Cassiel Ato Forson (PhD) (@Cassielforson) July 7, 2025
