IMF Approves $370 Million Disbursement to Ghana Following 4th Review Under ECF Programme
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By Samuel Asamoah
The Executive Board of the International Monetary Fund (IMF) has approved Ghana’s fourth review under the Extended Credit Facility (ECF) Programme, paving the way for the immediate disbursement of approximately $370 million to support the country’s economic recovery agenda.
The approval, announced by Ghana’s Finance Minister, Dr. Cassiel Ato Forson, marks the release of the fifth tranche of funding under the $3 billion ECF arrangement. It follows a rigorous assessment of Ghana’s economic performance and progress in implementing key reforms.
“This landmark approval validates Ghana’s unwavering commitment to fiscal discipline and strategic economic transformation,” Dr. Forson said. “Our comprehensive macroeconomic policies and carefully crafted structural reforms are delivering real results that the international community recognizes and supports.”
According to the IMF, Ghana has met critical programme benchmarks, including fiscal consolidation targets, debt sustainability efforts, and the implementation of structural reforms aimed at enhancing economic resilience.
The ECF programme, which Ghana entered in 2023 amidst severe fiscal and balance-of-payments challenges, is designed to restore macroeconomic stability, strengthen public finances, and promote sustainable growth. The latest disbursement brings Ghana’s total drawdown under the programme to date to over $2 billion.
The newly approved funds will offer vital budgetary support, enabling the government to sustain essential public services while continuing reforms aimed at long-term economic transformation.
“Today marks another decisive step forward in Ghana’s economic recovery journey,” Dr. Forson added. “Our reform agenda is not just working—it is exceeding expectations and rebuilding confidence in our nation’s financial future.”
The IMF’s decision comes at a critical time as Ghana seeks to restore investor confidence and maintain momentum in its recovery from recent economic turbulence. The successful completion of the 4th review is expected to further strengthen Ghana’s credibility on the international stage.
Ghana’s authorities have pledged to remain committed to the programme’s objectives, including prudent fiscal management, improved revenue mobilization, and transparent governance reforms.
