Ghana’s economic recovery efforts received a major boost today as the Executive Board of the International Monetary Fund (IMF) approved the country’s fourth review under the $3 billion Extended Credit Facility (ECF) programme, clearing the way for an immediate $370 million disbursement.
The decision signals strong international confidence in Ghana’s fiscal reforms and marks a crucial milestone in the government’s push to restore macroeconomic stability.
In a statement following the approval, Finance Minister Dr. Casiel Ato Forson hailed the development as a “decisive step forward” in Ghana’s economic revival.
“This landmark approval validates Ghana’s unwavering commitment to fiscal discipline and strategic economic transformation,” he said. “Our comprehensive macroeconomic policies and carefully crafted structural reforms are delivering real results that the international community recognises and supports.”
The latest disbursement brings Ghana closer to achieving the objectives of the three-year ECF programme, designed to restore debt sustainability, strengthen public finances, and promote inclusive growth.
Since the programme’s inception, Ghana has implemented tough but necessary measures, including:
Fiscal consolidation to reduce deficits and control debt
Revenue mobilization reforms to broaden the tax base
Structural adjustments to improve public financial management
Social protection programmes to cushion vulnerable citizens
The IMF’s continued support reflects growing optimism that these policies are stabilizing the economy and setting the stage for long-term resilience.
Source: Apexnewsgh.com/Ngamegbulam Chidozie Stephen
