The International Monetary Fund (IMF) is scheduled to convene in early December to decide on a $360 million disbursement to Ghana under its $3 billion Extended Credit Facility. If approved, this will increase Ghana’s total disbursements to $1.92 billion.
The decision follows an extensive two-week review of Ghana’s fiscal data, which concluded with a staff-level agreement on October 4 during the program’s third review.
IMF Communications Director, Julie Kozack, shared the update during a press briefing in Washington, D.C., on November 21, describing Ghana’s progress as encouraging.
“Once the review is completed by the IMF’s executive board, Ghana would have access to about $360 million in terms of disbursement,” she stated.
Kozack highlighted the nation’s strides in economic recovery, particularly in debt restructuring. “The program’s performance has been good, with remarkable progress on debt restructuring,” she said.
She also noted that Ghana’s economic growth in the first half of 2024 exceeded expectations, while inflation rates have declined, and fiscal and external positions have improved significantly.
Looking ahead, Kozack emphasized the importance of maintaining policy and reform momentum. “It remains essential to fully restore macroeconomic stability and debt sustainability, especially amid the challenging global and regional economic landscape,” she said.
The IMF plans to publish a detailed staff report after the board meeting, providing further insights into Ghana’s economic performance and future outlook.
