The Executive Board of the International Monetary Fund (IMF) has approved the final review of Ghana’s US$3 billion Extended Credit Facility (ECF) programme, bringing the country’s bailout programme to a successful conclusion.
In a statement issued on Monday, July 27, the Ministry of Finance said the approval unlocks a final disbursement of approximately US$371 million to the Bank of Ghana, bringing total disbursements under the programme to US$3 billion.
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According to the Ministry, the successful completion of the programme reflects Ghana’s progress in restoring economic stability through fiscal discipline, lower inflation, stronger external buffers and the implementation of key economic reforms.
Following the completion of the ECF programme, Ghana will begin a new phase of engagement with the IMF under a 36-month Policy Coordination Instrument (PCI), a non-financing arrangement designed to support the government’s reform agenda and sustain confidence in the country’s economic policies.
The government expressed appreciation to the people of Ghana for their resilience and support throughout the reform programme, while also thanking the IMF Executive Board, IMF Management and Staff, development partners, civil society and the private sector for their continued support.
It reaffirmed its commitment to protecting the gains achieved and implementing reforms aimed at building a stronger, more resilient and prosperous economy.
