Ghana Completes the Fifth IMF Program Review as Significant Economic Gains Are Driven by the Reset Agenda

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With the successful completion of a Staff-Level Agreement (SLA) with the International Monetary Fund (IMF) subsequent to the Fifth Review Mission under the US$3 billion Extended Credit Facility (ECF) program, Ghana has achieved a major milestone in its economic recovery efforts.

The government has met all six quantitative performance criteria and four indicative targets for the review period, according to Finance Minister Dr. Cassiel Ato Forson.

The agreement, he said, was a strong affirmation of the methodical and all-encompassing approach that had been followed during the previous nine months.

Ghana is starting to witness positive results from President Mahama’s Reset Agenda, the Minister said.
The economy has grown more quickly, and the non-oil sectors—where the majority of jobs are created—have shown remarkable growth.

Interest rates have drastically decreased, and inflation has dropped precipitously, back to single-digit levels.

A budget surplus and a significant decrease in the national debt are evidence that fiscal consolidation efforts are working, and the Ghanaian cedi has shown remarkable resilience and stability.

Significant progress has been made in bilateral debt restructuring efforts, he added, and the government is determined to complete all pending agreements before the ECF program ends.

By the end of December 2025, the IMF Executive Board is anticipated to take up Ghana’s Fifth Review. Upon approval, a US$385 million payout will be made, increasing the program’s total payouts to US$2.6 billion.

Lastly, Dr. Forson commended the IMF mission team for their constructive engagement and arduous work, and he thanked the Ghanaian people for their patience and resilience on behalf of the President.

Source: newsthemegh.com