The International Monetary Fund (IMF) has launched its fourth review mission in Ghana under the country’s Extended Credit Facility (ECF) programme for 2023–2026. The two-week mission, which commenced on April 2 and will run until April 15, is designed to assess Ghana’s economic performance and progress on key structural reforms. The review process began with discussions at the Ministry of Finance and the Bank of Ghana, focusing on the country’s fiscal performance and the projected economic goals for 2024.
Over the next two weeks, the IMF delegation will engage with senior government officials, the Central Bank, and various stakeholders to evaluate key economic indicators. These include inflation control measures, monetary policy, and the progress made in structural reforms. The mission aims to determine Ghana’s ability to meet the IMF’s targets, particularly in fiscal discipline, economic stabilization, and debt restructuring.
The outcome of the mission is crucial for Ghana as it will determine whether the country qualifies for the next tranche of financial assistance from the IMF. This funding is vital for maintaining macroeconomic stability and continuing the country’s recovery from economic challenges. Finance Minister Dr. Cassiel Ato Forson has emphasized the government’s commitment to the reforms, pointing to the passage of significant tax amendments and public procurement reforms as key achievements.
Dr. Forson is optimistic that, with favorable macroeconomic trends, Ghana’s economy could stabilize by May 2025. He also stressed the importance of completing the IMF review on schedule, with the final statement from the IMF expected on April 15. The successful completion of the mission would bolster the country’s economic prospects and ensure continued financial support from the international body.
Source: citi newsroom