IMF praises Ghana’s economic progress

The International Monetary Fund (IMF) has concluded a productive mission to Ghana, expressing optimism about the country’s economic trajectory and progress on key reforms.
The team, led by Mission Chief, Mr. Stephane Roudet, engaged with Ghanaian authorities from February 10-14 to discuss macroeconomic developments and preparations for the 2025 national budget.
Mr. Roudet commended the government’s commitment to reforms under the $3 billion Extended Credit Facility (ECF) programme.
“The mission team engaged with Ghanaian authorities on recent macroeconomic developments and initiated discussions on policies that will underpin the 2025 budget. This dialogue will continue in the coming weeks,” he said.
The mission held high-level meetings with President John Mahama, Finance Minister Dr. Forson, Bank of Ghana Acting Governor Asiama, and representatives from various government agencies and civil society organizations.
Mr. Roudet emphasized the importance of these discussions for Ghana’s economic stability, particularly as the country approaches the fourth review of the ECF programme in April.
This review will assess Ghana’s performance against fiscal and structural benchmarks.
“We took stock of the authorities’ progress in meeting key commitments under the Fund-supported programme. It is signalling confidence in the government’s efforts to stabilize public finances and restore macroeconomic resilience,” he said.
The IMF also acknowledged the constructive engagement and support from Ghanaian stakeholders.
The discussions laid the groundwork for ongoing collaboration on the 2025 budget, which is expected to focus on fiscal consolidation, debt sustainability, and growth-enhancing measures amidst global economic uncertainties.
A successful completion of the April review could unlock further disbursements under the ECF, providing Ghana with additional resources to address fiscal challenges.