IMF Assesses Ghana’s Economic Performance

The International Monetary Fund (IMF) has commenced its fourth review mission in Ghana under the country’s Extended Credit Facility (ECF) program for 2023–2026.

The team of IMF officials will be assessing Ghana’s economic performance and progress on structural reforms under the IMF-backed programme.

It began on April 2 and is expected to end on April 15 when the IMF’s final statement would be delivered.

The review began with discussions at the Ministry of Finance and the Bank of Ghana, focusing on the country’s fiscal performance for 2024, the Finance Ministry announced in a press statement on April 2.

In the next two weeks, the IMF delegation is scheduled to engage senior government officials, the Central Bank, and other stakeholders to evaluate key economic indicators, including inflation control, monetary policy, and structural reforms.

“The mission will also assess Ghana’s progress in meeting IMF targets related to fiscal discipline, economic stabilization, and debt restructuring. The outcome will determine whether Ghana qualifies for the next tranche of financial support from the IMF, which is crucial for maintaining macroeconomic stability.”

Meanwhile, the Finance Minister, Dr. Cassiel Ato Forson (MP) is confident of a positive outcome following “positive” macroeconomic trends.

According to him, Ghana’s economy could stabilize by May 2025.

He further emphasized the government’s commitment to economic reforms, citing the passage of transformative tax amendment bills, public procurement reforms, and policies in the 2025 Budget.

Source: opemsuo.com/Hajara Fuseini