The Government of Ghana has secured a critical milestone in its economic recovery efforts, reaching a Staff-Level Agreement (SLA) with the International Monetary Fund (IMF) after the successful conclusion of the Fifth Review under the country’s three-year $3 billion Extended Credit Facility (ECF) Programme.
The announcement was made by the Minister for Finance, Dr. Cassiel Ato Forson, who described the development as a major endorsement of President John Dramani Mahama’s economic reset strategy. “This milestone is a powerful validation of the disciplined and comprehensive economic recovery strategy we have pursued over the past nine months,” Dr. Forson said.
According to the Finance Minister, Ghana met all six Quantitative Performance Criteria and four Indicative Targets during the review period, performance that paves the way for the IMF Executive Board to consider approval of the review by the end of December 2025. Upon approval, Ghana will unlock a fresh disbursement of $385 million, bringing total disbursements under the programme to $2.6 billion.
Dr. Forson highlighted key economic indicators that show significant progress since the Mahama-led administration took office in January 2025. “Economic growth has accelerated, with non-oil sectors, where most jobs are created, showing impressive expansion. Inflation has dropped to single digits, interest rates are declining, and the cedi has demonstrated remarkable stability,” he noted.
He further emphasized that Ghana’s fiscal position is improving, citing a budget surplus and a substantial reduction in public debt levels as signs of effective fiscal consolidation.
The Minister also confirmed ongoing progress in Ghana’s bilateral debt restructuring engagements, assuring that outstanding agreements would be finalized before the ECF programme concludes.
He expressed optimism that the agreement with the IMF, coupled with ongoing reforms, will continue to enhance investor confidence, strengthen public finances, and drive long-term sustainable growth.
“On behalf of H.E. the President, I wish to extend my sincere gratitude to the people of Ghana for their patience and resilience throughout this journey. I also thank the IMF mission team for their constructive engagement and tireless work,” he said.
The development marks another significant step in Ghana’s economic reset agenda and builds momentum for further macroeconomic stability and reforms in 2026.
