IMF Approves Third Review of Ghana's $3 Billion Extended Credit Facility
The completion unlocks $600 million in new disbursements and signals growing international confidence in Ghana's reform programme.
The International Monetary Fund's Executive Board has completed the third review of Ghana's Extended Credit Facility arrangement, unlocking approximately $600 million in new disbursements. The total programme is valued at $3 billion over three years.
IMF Deputy Managing Director Antoinette Sayeh praised Ghana's commitment to fiscal consolidation, noting that the primary fiscal balance has improved significantly. "Ghana's economic programme is on track, and the authorities continue to implement difficult but necessary reforms," she said.
The review highlighted progress in domestic revenue mobilization, with the Ghana Revenue Authority exceeding its collection targets for three consecutive quarters. However, the Fund urged continued restraint in public spending and acceleration of state-owned enterprise reforms.