The International Monetary Fund (IMF) has approved a $367 million disbursement to Ghana, marking the completion of the fourth review under the country’s $3 billion Extended Credit Facility (ECF) arrangement from May 2023.
This tranche brings total disbursements to approximately $2.3 billion, supporting Ghana’s macroeconomic stabilisation efforts—an improved economic outlook, higher reserves, and a strengthened cedi.
Recent figures show Ghana’s GDP grew 5.3% year-on-year in Q1 2025, driven by agriculture and mining, outperforming the 4.9% from Q1 2024 . The IMF forecasts a current account surplus of 1.8% of GDP by year-end.
While public debt remains high, the IMF emphasises ongoing fiscal consolidation, primary balance surplus targets, and debt restructuring as key to sustainable finances . The latest funds will also bolster infrastructure, social services, and give the BoG flexibility for monetary policy.
The IMF praised Ghana’s government for firm reform commitments following the December 2024 elections, contrasting past setbacks.
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