Ghana Nears IMF Staff-Level Deal as Fourth Review Concludes
Government presses ahead with reforms as IMF concludes fourth review under $3B Extended Credit Facility.
- The IMF has completed its fourth review of Ghana’s economic program under the $3 billion Extended Credit Facility
- Ghana remains hopeful for a staff-level agreement
- A successful review could unlock a $360 million disbursement
As the International Monetary Fund (IMF) wraps up its fourth review under the Extended Credit Facility (ECF) today, Tuesday, April 15, the Government of Ghana remains hopeful about securing a staff-level agreement.
According to sources close to Citi Business News, although Ghana fell short on some key performance benchmarks in 2024, a preliminary agreement is still within reach. This will largely depend on the government’s readiness to roll out corrective actions—particularly in areas like tax reform and public procurement enhancements—in the coming weeks.
The IMF is expected to bring Ghana’s case before its Executive Board in June, a key milestone that could unlock the next tranche of funding.
The review, which began on April 2, involved an in-depth assessment of Ghana’s economic performance and structural reform progress. During the mission, the IMF engaged with the Ministry of Finance, the Bank of Ghana, and other stakeholders to discuss inflation trends, monetary policy, and debt restructuring efforts.
If successful, the review could lead to the disbursement of approximately $360 million. To date, Ghana has received $1.92 billion out of the $3 billion package under the ECF program.
This next phase is vital for strengthening economic stability and restoring investor confidence as Ghana continues on its path to recovery.
