The International Monetary Fund (IMF) has begun its fourth review mission in Ghana, as part of the country’s ongoing Extended Credit Facility (ECF) programme for 2023-2026. The two-week review, which runs from April 2 to April 15, aims to evaluate Ghana’s economic performance, focusing on fiscal discipline, structural reforms, and the country’s ability to meet the IMF’s targets.
The mission kicked off with discussions held at the Ministry of Finance and the Bank of Ghana, centering on Ghana’s fiscal outlook for 2024. Over the next two weeks, the IMF delegation will collaborate with senior government officials, the central bank, and other key stakeholders to assess critical areas such as inflation control, monetary policy, and ongoing structural reforms.
One of the primary objectives of the review is to evaluate Ghana’s progress in key areas such as fiscal stabilisation, debt restructuring, and adherence to the financial commitments set forth under the IMF agreement. The outcome of this review will play a significant role in determining whether Ghana qualifies for the next tranche of financial support from the IMF, a crucial step in maintaining macroeconomic stability.
Finance Minister Dr. Cassiel Ato Forson, speaking on the government’s reform efforts, reiterated the country’s commitment to fulfilling the programme’s objectives. He pointed to recent policy changes such as the passage of tax amendments, public procurement reforms, and measures outlined in the 2025 Budget as evidence of progress.
Dr. Forson expressed optimism that with improving macroeconomic trends, Ghana’s economy could begin stabilising by May 2025 and emphasized the importance of the review’s timely conclusion.
The final assessment from the IMF will be released on April 15, providing an update on Ghana’s progress and detailing the implications for the next phase of financial support.
