The International Monetary Fund (IMF) has initiated its fourth review mission in Ghana as part of the Extended Credit Facility (ECF) program for the period of 2023 to 2026.
This two-week mission, which will take place from April 2 to April 15, aims to evaluate Ghana’s economic performance and the advancement of structural reforms under the IMF-supported initiative.
The review commenced with meetings at the Ministry of Finance and the Bank of Ghana, concentrating on the country’s fiscal performance for the year 2024.
During the upcoming fortnight, the IMF team will interact with senior government officials, the central bank, and various stakeholders to assess critical economic indicators, such as inflation management, monetary policy, and structural reforms.
Additionally, the mission will review Ghana’s progress in achieving IMF targets concerning fiscal discipline, economic stabilization, and debt restructuring.
The results of this review will be pivotal in determining Ghana’s eligibility for the next installment of financial assistance from the IMF, which is essential for sustaining macroeconomic stability.
Finance Minister Dr. Cassiel Ato Forson reiterated the government’s dedication to economic reforms, emphasizing the approval of tax amendment bills, public procurement reforms, and initiatives outlined in the 2025 Budget.
He expressed optimism that, given favorable macroeconomic trends, Ghana’s economy could achieve stability by May 2025 and underscored the necessity of completing the review on time.
The IMF is anticipated to publish its final statement on April 15, detailing its evaluation of Ghana’s economic progress and the consequences for future financial assistance.
