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By Edward Graham Sebbie
Ghana has made significant strides in its economic recovery, concluding the Fifth Review of its IMF programme with a Staff-Level Agreement (SLA) under the US$3 billion Extended Credit Facility (ECF). According to Finance Minister, Dr. Cassiel Ato Forson, the country has met all six Quantitative Performance Criteria and four Indicative Targets, showcasing the effectiveness of the government’s economic strategy.
*Key Economic Gains:*
*Growth*: Non-oil sectors are expanding impressively, driving economic growth and job creation
*Inflation*: Inflation has dropped to single-digit levels
– *Interest Rates*: Significant decline in interest rates
– *Currency Stability*: The Ghana cedi is demonstrating strength and stability
– *Fiscal Consolidation*: Budget surplus and substantial public debt reduction
*Progress and Next Steps:*
*Bilateral Debt Restructuring*: Significant progress made, with efforts to finalize agreements before the ECF programme ends
*IMF Executive Board Review*: Expected by end of December 2025
– *Disbursement*: US$385 million unlock upon approval, bringing total disbursements to US$2.6 billion
*Government Appreciation:*
Dr. Forson expressed gratitude to Ghanaians for their patience and resilience and thanked the IMF mission team for their constructive engagement, highlighting the collaborative efforts driving Ghana’s economic progress.
