Ghana has successfully completed its three-year programme with the International Monetary Fund (IMF) following the approval of the country’s final review under the Extended Credit Facility (ECF) arrangement.
The decision, reached during a sitting of the Fund’s Executive Board in Washington DC on Thursday, officially brings to an end the macroeconomic bailout package entered into in 2023 to restore financial stability, boost investor confidence, and underpin long-term structural reforms.
In addition to completing the sixth and final programme review, the Executive Board approved Ghana’s request for a new Policy Coordination Instrument (PCI).
This transition opens the path for the next phase of the government’s economic reform strategy without direct financial assistance attached.
The green light on the final ECF review is set to unlock more than $300 million in immediate funding, which is expected to be credited to the Bank of Ghana’s account within days.
During the session, the Fund also concluded Ghana’s 2026 Article IV Consultation, granted a waiver for the non-observance of a performance criterion regarding the cost-sharing setup for GoldBod operations, and formally wrapped up the Financing Assurances Review.
The successful implementation of the programme is expected to reinforce international market confidence in the Ghanaian economy, potentially providing momentum for positive adjustments to the nation’s sovereign credit ratings in the near future.
