IMF Begins Fourth Review of Ghana’s Economic Performance Under Credit Facility Programme
The International Monetary Fund (IMF) has officially commenced its fourth review mission in Ghana as part of the country’s Extended Credit Facility (ECF) programme for 2023–2026. The two-week assessment which runs from April 2 to April 15, 2025, will evaluate Ghana’s economic performance and progress on structural reforms under the IMF-backed programme.
According to a statement posted on the Facebook page of the Ministry of Finance the IMF delegation has already begun discussions at the Ministry of Finance and the Bank of Ghana. These initial engagements are focusing on Ghana’s fiscal performance for 2024 and the broader economic outlook.
Over the next two weeks the IMF team will hold meetings with senior government officials, the Central Bank, and other stakeholders to assess key economic indicators, including:
• Inflation control measures
• Monetary policy effectiveness
• Structural reforms and fiscal discipline
• Debt restructuring efforts
The review’s outcome will be critical in determining whether Ghana qualifies for the next tranche of financial support from the IMF which is vital for maintaining macroeconomic stability.
During the discussions Finance Minister Dr. Cassiel Ato Forson reiterated the government’s strong commitment to economic reforms. He highlighted several initiatives aimed at fiscal discipline and economic stability, including:
• The passage of tax amendment bills to improve revenue generation
• Public procurement reforms to enhance efficiency and reduce corruption
• Implementation of policies outlined in the 2025 Budget
Dr. Forson expressed confidence that, with positive macroeconomic trends, Ghana’s economy could stabilize by May 2025. He also emphasized the importance of completing the IMF review on schedule to ensure continued financial support.
At the conclusion of the review, the IMF is expected to release a final statement on April 15, detailing its assessment of Ghana’s economic progress and the implications for future financial assistance.
The results of this review will not only impact Ghana’s access to IMF funds but also influence investor confidence and the nation’s long-term economic trajectory.