The IMF Executive Board approved Ghana’s fifth review under its supported program on December 17, 2025, in Washington, DC. The decision recognizes Ghana’s strong progress in meeting key benchmarks and targets.
A staff report, expected soon, will detail performance highlights and any economic concerns.
Disbursement Timeline
This paves the way for about $385 million (SDR 267.5 million) to reach the Bank of Ghana before year’s end. Total IMF support since May 2023 would then hit $2.83 billion (SDR 1,975.5 million). The approval follows a staff-level agreement on October 10, 2025, after a two-week assessment mission.
Key Reforms Praised
The IMF commended advances in debt restructuring, fiscal consolidation, energy sector reforms, foreign exchange operations, and financial sector resilience. IMF Communications Director Julie Kozack noted Ghana’s new fiscal responsibility framework, independent fiscal council, and improved public financial management for better spending efficiency—steps toward post-program discipline.
Market Impact
Analysts expect boosted donor and investor confidence, especially with the cedi stabilizing. Officials reaffirmed fiscal discipline beyond the program’s May 2026 end, despite spending risks. To signal ongoing stability, Ghana may subscribe to an IMF policy instrument short of a full program.
Story by: Mercy Addai Turkson #ahotoronline.com