Ghana Secures $370 Million Boost as IMF Approves Fourth Review of Loan Deal

Ghana is set to receive another $370 million from the International Monetary Fund (IMF) following a staff-level agreement on the fourth review of its $3 billion loan programme. The approval, which still awaits the IMF Executive Board’s final greenlight, marks a major step in Ghana’s ongoing efforts to stabilize its economy and push through key reforms.

This development follows a two-week assessment by an IMF team led by Mission Chief Stéphane Roudet. The review looked at Ghana’s economic performance under the Extended Credit Facility (ECF) agreement signed in May 2023.

Although Ghana recorded stronger-than-expected growth in 2024, thanks largely to mining and construction, the IMF flagged several concerns. It noted that fiscal discipline weakened during the 2024 election period, inflation exceeded targets, and several crucial reforms in finance and energy sectors were delayed.

In response, Ghana’s new leadership has rolled out a series of corrective measures, including a tighter budget, public finance reforms, adjustments to electricity tariffs, and stricter monetary policy.

If the Board gives final approval, this new disbursement will bring Ghana’s total IMF funding under the program to about $2.36 billion.