Ghana has reached a significant milestone in its economic recovery efforts with the successful conclusion of a Staff-Level Agreement (SLA) with the International Monetary Fund (IMF) following the Fifth Review Mission under the US$3 billion Extended Credit Facility (ECF) programme.
Finance Minister Dr. Cassiel Ato Forson confirmed that the Government has achieved all six Quantitative Performance Criteria and four Indicative Targets for the review period. He described the agreement as a powerful validation of the disciplined and comprehensive strategy pursued over the past nine months.
The Minister noted that Ghana is beginning to see strong outcomes from President Mahama’s Reset Agenda.
Economic growth has accelerated, with non-oil sectors, where most jobs are created, showing impressive expansion.
Inflation has fallen sharply, returning to single-digit levels, while interest rates have declined significantly.
The Ghana cedi has demonstrated notable strength and stability, and fiscal consolidation efforts are yielding results, reflected in a budget surplus and a substantial reduction in public debt.
He also announced significant progress in bilateral debt restructuring efforts, with the government committed to finalising all outstanding agreements before the end of the ECF programme.
The IMF Executive Board is expected to consider Ghana’s Fifth Review by the end of December 2025. Once approved, it will unlock a disbursement of US$385 million, bringing total disbursements under the programme to US$2.6 billion.
Finally, on behalf of the President, Dr. Forson extended gratitude to the people of Ghana for their patience and resilience and thanked the IMF mission team for their constructive engagement and tireless work.
