The International Monetary Fund (IMF) has kicked off its fourth review mission in Ghana under the Extended Credit Facility (ECF) programme for the period 2023–2026. This two-week mission, running from April 2 to April 15, will evaluate Ghana’s economic performance and the progress made on structural reforms within the IMF-supported program.
The review process began with crucial discussions at the Ministry of Finance and the Bank of Ghana, focusing primarily on Ghana’s fiscal performance in 2024. Moving forward, the IMF delegation will interact with senior government officials, executives from the Central Bank, and other key stakeholders to assess essential economic indicators such as inflation control, monetary policy, and the implementation of structural reforms.
The review will also scrutinize Ghana’s advancement towards meeting IMF targets related to fiscal discipline, economic stability, and debt restructuring. The outcome of this evaluation will determine whether Ghana qualifies for the next tranche of IMF financial support, which is crucial for sustaining macroeconomic stability and boosting investor confidence in the country.
Finance Minister, Dr. Cassiel Ato Forson, emphasized various key measures taken by the government, including the passage of pivotal tax amendment bills, substantial reforms in public procurement, and the implementation of policies outlined in the 2025 Budget. These actions demonstrate the administration’s dedication to fostering a resilient and dynamic economy.
Dr. Forson expressed optimism about Ghana’s economic stabilization by May 2025, citing positive trends in macroeconomic indicators. He underscored the importance of concluding the review process within the scheduled timeframe to ensure timely decisions and actions.
The upcoming weeks will see additional meetings and technical discussions, culminating in a final statement from the IMF on April 15, 2025. The outcome of this review will have significant implications for Ghana’s economic outlook and its access to vital financial support from international institutions.
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