The International Monetary Fund has approved a $367 million disbursement to Ghana, bringing the total amount received by the country under the loan programme to approximately $2.3 billion.
The IMF approved a $3 billion bailout for Ghana in May 2023, which has helped stabilise the economy and led to a Fitch rating revision.
Ghana’s Finance Minister, Cassiel Ato Forson, welcomed the disbursement, saying, “Today marks another decisive step forward in Ghana’s economic recovery journey, demonstrating that our reform agenda is yielding positive results.” The minister’s comments reflect the government’s commitment to implementing economic reforms and restoring fiscal discipline.
The loan program aims to support Ghana’s economic reform agenda, which focuses on restoring fiscal discipline and addressing structural weaknesses. The IMF has commended Ghana’s authorities for demonstrating a strong commitment to reforms, including passing a 2025 budget aligned with the program’s objectives and enacting a more robust fiscal responsibility framework.
The disbursement is expected to further support Ghana’s economic recovery efforts, with the country showing resilience in key sectors such as mining, agriculture, and construction. The IMF has emphasized the importance of continued fiscal consolidation and improved tax administration to ensure sustainable economic growth. Ghana’s economic performance has shown signs of improvement, driven by solid exports and higher remittance inflows.
The IMF’s support has been crucial in helping Ghana navigate its economic challenges, and the latest disbursement is expected to provide further momentum to the country’s recovery efforts. With nearly $700 million in IMF funds still available under the current arrangement, Ghana is expected to continue implementing its economic reform agenda and working towards sustainable economic growth.