President John Mahama has assured Ghanaians that Ghana’s current programme with the International Monetary Fund (IMF) will be the final one for the country.
He has therefore pledged to build an economy resilient enough to never again require such intervention.
President Mahama gave the assurance at the opening of the University of Ghana’s 77th Annual New Year School and Conference.
“We’ll emerge from the extended credit facility with the IMF towards the middle of this year,” he stated.
“And it is my hope that this will be the very last time we will ever go for a bailout from that international monetary institution.”
“It must be the 17th and the last time that Ghana goes for a bailout from the IMF,” he added.
He was, however, quick to add that any future with the fund would be towards technical collaboration and not financial rescue.
“We’ll continue our collaboration with the IMF under Article 4 and other instruments… But it will definitely be the last time we go on our knees to beg for a bailout.”
He said Ghana will pursue a strategy that will push us towards self-sufficiency.
A strong economy “cannot be achieved through austerity alone, but through production, inclusion and shared prosperity.”
He added that the approach would focus on robust domestic revenue mobilisation, restored fiscal discipline, and rebuilding confidence in the financial sector.
Background
In 2023, Ghana submitted an application for the US$3 billion, 39-month Extended Credit Facility (ECF) Arrangement, which the International Monetary Fund’s Board subsequently approved.
The funds are disbursed in installments, known as tranches, following successful periodic reviews of the country’s economic performance.
Ghana received its first tranche of approximately $600 million on May 17, 2023, marking the initial program approval. The second tranche, worth around $600 million, was disbursed on January 19, 2024, following the completion of the first review.
Furthermore, the third tranche, amounting to $360 million, was approved on June 28, 2024, upon completion of the second review.
The fourth tranche, valued at $367 million, was disbursed on July 7, 2025, after the completion of the fourth review.
The fifth tranche, worth $385 million, was disbursed on December 17, 2025.
