Ghana’s economic recovery has received a major boost following the approval of the country’s fourth review under the International Monetary Fund’s (IMF) Extended Credit Facility (ECF) Programme.
The IMF Executive Board’s decision, announced on Monday, July 7, paves the way for the disbursement of approximately $370 million to Ghana.
The announcement was made by Finance Minister Dr. Cassiel Ato Forson, who welcomed the development as a critical milestone in the country’s ongoing efforts to restore economic stability and investor confidence.
I have received with sadness the passing of Hon. Ernest Yaw Kumi, MP Akwatia Constituency. Ernest was a loyal patriot.
My condolences to the immediate family. May his soul rest in peace pic.twitter.com/KfFC6jhjqi
— Dr. Mahamudu Bawumia (@MBawumia) July 7, 2025
“The IMF Executive Board has just approved Ghana’s 4th Review under the ECF Programme, clearing the path for a substantial $370 million disbursement!” Dr. Forson posted on social media platform X (formerly Twitter). “This landmark approval validates Ghana’s unwavering commitment to fiscal discipline and strategic economic transformation.”
He added that the country’s macroeconomic framework and targeted structural reforms are yielding tangible results, earning the confidence and backing of the international financial community.
The ECF Programme has been at the heart of Ghana’s efforts to stabilise its economy amid high inflation, currency depreciation, and public debt challenges. Since entering the programme, the government has implemented a series of fiscal and structural measures aimed at reducing deficits, restoring macroeconomic balance, and promoting sustainable growth.
Dr. Forson described the IMF’s endorsement as a “decisive step forward” in the country’s economic recovery journey. “The reform agenda is not just working — it’s exceeding expectations and rebuilding confidence in our nation’s financial future,” he said.
The newly approved funds are expected to reinforce Ghana’s international reserves, improve fiscal management, and support key pro-growth initiatives, including infrastructure and social investment.
The Finance Minister reaffirmed the government’s commitment to maintaining discipline and transparency as it continues to steer the economy toward a more resilient and inclusive future.
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