Ghana has reached a Staff-Level Agreement with the International Monetary Fund subsequent to the successful completion of the Fifth Review Mission under the existing three-year US$3 billion Extended Credit Facility Programme.
Finance Minister Dr. Cassiel Ato Forson disclosed this information in a statement shared on his official Facebook page on Friday, October 10, 2025.
Dr. Forson revealed that the agreement between the government and the IMF was reached following the achievement of all six Quantitative Performance Criteria and four Indicative Targets for the review period.
According to him, Ghana has made significant progress in all bilateral debt restructuring efforts.
The country remains committed to finalizing all outstanding agreements before the end of the ECF programme.
The Minister announced that the IMF is expected to consider Ghana’s Fifth Review by the end of December 2025.
Following approval, Ghana will receive a disbursement of US$385 million, bringing total disbursements under the programme to US$2.6 billion.
Below is the full statement
I am pleased to confirm that the Government of Ghana has reached a Staff-Level Agreement (SLA) with the International Monetary Fund (IMF) following the successful completion of the Fifth Review Mission under our three-year US$3 billion Extended Credit Facility (ECF) Programme.
This follows our achievement of all six Quantitative Performance Criteria and four Indicative Targets for the review period.
This milestone is a powerful validation of the disciplined and comprehensive economic recovery strategy we have pursued over the past nine months.
We are beginning to see strong outcomes from President Mahama’s Reset Agenda: Economic growth has accelerated, with non-oil sectors, where most jobs are created, showing impressive expansion. Inflation has fallen sharply, returning to single-digit levels, while interest rates have declined significantly. The Ghana cedi has demonstrated notable strength and stability, and our fiscal consolidation efforts are yielding results, reflected in a budget surplus and a substantial reduction in public debt.
We have also made significant progress in our bilateral debt restructuring efforts and are committed to finalising all outstanding agreements before the end of the ECF programme.
The IMF Executive Board is expected to consider Ghana’s Fifth Review by the end of December 2025. Once approved, it will unlock a disbursement of US$385 million, bringing total disbursements under the programme to US$2.6 billion.
Finally, on behalf of H.E. the President, I wish to extend my sincere gratitude to the people of Ghana for their patience and resilience throughout this journey. I also thank the IMF mission team for their constructive engagement and tireless work.
