IMF Team Expected to Conclude Review of Ghana's Extended Credit Facility Programme

• IMF mission team led by Ruben Atoyan concludes two-week review mission in Ghana
• Review assesses Ghana's progress under Extended Credit Facility programme
• Fund to determine eligibility for final IMF support tranche
• Finance Minister Ato Forson emphasizes importance of sustaining economic momentum

The International Monetary Fund (IMF) is expected to conclude the final review of Ghana's Extended Credit Facility programme on Friday, May 15. A visiting team from the IMF, led by Ruben Atoyan, has been in Ghana since April 29, 2026, for the two-week sixth review mission.

The review aims to assess Ghana's progress under the programme, which was approved in May 2023. The programme has provided significant support to Ghana, with access of 303.8 per cent of quota, equivalent to SDR 2.2419 billion, or about US$3 billion.

Focus of Review

The IMF mission is expected to examine Ghana's overall performance since the fifth review earlier this year. The team will determine whether delayed targets and structural reforms have been completed or are close to completion. The review will also focus on the fiscal side, particularly developments in the energy sector, and government spending priorities.

The team is also expected to examine prior actions required under the sixth review, which will be necessary for Ghana to qualify for the final tranche of IMF support and successfully complete the programme.

Finance Minister's Remarks

Finance Minister Cassiel Ato Forson has reflected on Ghana's recovery since the 2022 economic crisis. He said the partnership between government and the IMF has delivered strong and measurable outcomes, stabilising the economy, restoring credibility, and renewing hope among Ghanaians.

According to him, the programme has helped to unlock private sector growth at scale and translate macroeconomic stability into tangible outcomes for citizens. He expressed appreciation to the IMF on behalf of the President and the people of Ghana, describing the progress as significant and anchored on discipline and difficult policy decisions taken in the national interest.

Programme Performance and Outlook

Ghana's 36-month Extended Credit Facility arrangement was approved in May 2023. The IMF said Ghana's performance had been broadly satisfactory despite delays in some structural reforms. The Bank of Ghana's reserves have also reached record levels, strengthening the country's buffer against external shocks.

The IMF maintained Ghana's 2026 growth projection at 4.8 per cent, slightly above the 4.6 per cent forecast for Sub-Saharan Africa. This comes against a backdrop of ongoing efforts to resolve legacy challenges within the financial system.

Looking Ahead

The IMF's review will provide crucial insights into Ghana's economic performance and its prospects for growth. The government's commitment to sustaining momentum and consolidating the recovery is crucial in ensuring that stability translates into tangible outcomes for citizens.

The IMF's final report is expected to be presented to the board for consideration in August this year. The outcome of the review will have significant implications for Ghana's economic prospects and its relationship with the IMF.