By Sarah Achile
Ghana has received a fresh $367 million disbursement from the International Monetary Fund (IMF), further strengthening its efforts to stabilize the economy and drive sustainable growth. The latest tranche brings the total IMF support under the ongoing $3 billion bailout package to approximately $2.3 billion.
The IMF initially approved the extended credit facility for Ghana in May 2023 to help the country navigate severe economic challenges, including inflationary pressures and fiscal deficits. Since then, the bailout has played a key role in steadying the economy and restoring investor confidence with a recent Fitch rating upgrade reflecting that progress.
Ghana’s Finance Minister, Dr. Cassiel Ato Forson, described the disbursement as a “decisive step” in the country’s economic recovery.
“Today marks another decisive step forward in Ghana’s economic recovery journey, demonstrating that our reform agenda is yielding positive results,” the minister stated.
The IMF also praised Ghana’s commitment to implementing wide-ranging economic reforms, including the successful passage of a 2025 national budget aligned with the Fund’s objectives. The reforms are focused on restoring fiscal discipline, enhancing public financial management, and improving revenue collection mechanisms.
The new funds are expected to further strengthen key sectors such as mining, agriculture, and infrastructure, while supporting the government’s broader agenda for economic transformation.
The IMF emphasized the need for sustained efforts in fiscal consolidation and tax reforms to ensure long-term stability. Despite global and domestic challenges, Ghana’s economic performance is showing signs of resilience, buoyed by strong export performance and increased diaspora remittances.
With around $700 million still available under the IMF program, Ghana is projected to stay on course with its economic reform commitments, aiming to lay a solid foundation for inclusive and sustainable growth.
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