International Monetary Fund (IMF)
The International Monetary Fund (IMF) has endorsed Ghana’s fiscal discipline and structural reforms under President John Mahama’s administration for taking decisive steps to keep Ghana’s economic recovery programme on course.
This comes on the back of Ghana’s successful completion of the IMF Executive Board’s Fourth Review of its Extended Credit Facility (ECF).
In a statement released by the fund as sighted by GhanaWeb Business, the IMF commended the administration’s “bold corrective actions” aimed at restoring fiscal discipline and macroeconomic stability.
It noted that these efforts combined with ongoing structural reforms and a stronger external position are expected to help Ghana build resilience and drive more inclusive and sustainable economic growth.
“The authorities are strongly committed to restoring fiscal discipline and addressing the structural weaknesses that led to past slippages. They have passed a 2025 budget aligned with the programme’s goals and have enacted an enhanced fiscal responsibility framework. Staying the course of fiscal adjustment and completing the debt restructuring remain critical to ensuring fiscal sustainability,” the fund noted.
According to the Fund, Ghana’s 2025 national budget is fully aligned with the ECF programme, and a new fiscal responsibility framework has been enacted to prevent a repeat of past slippages.
“Staying the course on fiscal adjustments and completing the debt restructuring process will be essential to maintaining long-term fiscal sustainability,” the IMF said.
The Fund also emphasised the need for stronger domestic revenue mobilisation, stricter expenditure controls, and increased fiscal space to fund development and social protection programmes.
It however called for urgent action to address deep-rooted challenges in the energy sector particularly legacy arrears which continue to pose fiscal risks.
The IMF concluded by stressing the importance of improving crisis management frameworks, strengthening financial safety nets, and resolving legacy issues within specialised deposit-taking institutions.
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