An International Monetary Fund (IMF) staff mission is expected in Accra from September 29, 2025, for Ghana’s 5th programme review.
This review is expected to focus on assessing Ghana’s performance under the IMF programme since completing the 4th review earlier in the year.
It is also expected to determine whether the country qualifies for the next disbursement of about US$360 million in October.
Ghana has received approximately US$2.3 billion since the beginning of the programme in May 2023.
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The fifth review is the penultimate assessment before the conclusion of the programme in May 2026.
Key among expectations of the IMF include inflation trends and the effectiveness of policy measures, the sustainability of reserve accumulation, and fiscal discipline, particularly progress toward achieving the 1.5% of GDP primary surplus target.
However, some analysts have argued that Ghana risks a slip after the completion of the programme if adequate measures are not put in place.
The IMF’s review will primarily focus on inflation performance, the sustainability of reserve build-up, the audit of arrears, and the country’s weak private sector.
Also, the fund will consider the recapitalisation needs of banks, fiscal policy shortfalls in the face of an appreciated currency, arrears build-up in NHIL, GETFund, road fund, and other areas.
SSD/AE
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