The International Monetary Fund (IMF)
The Executive Board of the International Monetary Fund (IMF) will, on Monday, July 7, 2025, consider Ghana’s fourth programme review under the ongoing Extended Credit Facility (ECF) arrangement in Washington, DC.
According to sources close to Ghana’s IMF programme, the government has met nearly all the conditions necessary for the Board to convene and deliberate on Ghana’s economic performance.
The IMF Executive Board submitted all required documents last week, meeting the minimum four-day threshold ahead of today’s meeting.
The Board’s consideration follows the staff-level agreement reached with Ghana in April 2025 on the fourth review of the programme. The expected disbursement of $370 million is anticipated to bolster the country’s reserves.
The IMF Board is widely expected to approve Ghana’s performance under the programme, paving the way for the disbursement of approximately $370 million.
The funds, which are likely to be credited to the Bank of Ghana’s account by Friday, July 11, 2025, will bring Ghana’s total receipts under the ECF to over US$2.3 billion since the programme commenced in May 2023.
In addition to the IMF funds, Ghana is also set to receive another US$360 million from the World Bank, aimed at supporting the government’s economic recovery efforts.
Ghana’s three-year IMF-supported programme focuses on restoring macroeconomic stability, achieving debt sustainability, and laying the groundwork for stronger, more inclusive growth. One of the key targets is to reduce the country’s debt-to-GDP ratio to 55% by 2028.
The disbursements from both the IMF and the World Bank are expected to further consolidate Ghana’s reserve position, provide greater stability to the cedi, and support the country’s ongoing economic recovery.
SP/MA
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