Ghana’s economic revival has received a major boost as the International Monetary Fund (IMF) Executive Board approved the Fourth Review under the Extended Credit Facility (ECF) Programme, unlocking a fresh $370 million disbursement to support the country’s fiscal recovery and reform efforts.

Finance Minister Dr. Cassiel Ato Forson announced the milestone, describing it as a powerful endorsement of Ghana’s steady progress toward restoring macroeconomic stability and building investor confidence.

“This landmark approval validates Ghana’s unwavering commitment to fiscal discipline and strategic economic transformation,” Dr. Forson said.

The newly approved funding marks the fifth tranche of the ECF arrangement and follows a comprehensive assessment by the IMF of Ghana’s economic performance.

The Fund concluded that Ghana has met critical benchmarks, including targets for fiscal consolidation, debt sustainability, and structural reforms.

Ghana entered the ECF Programme in 2022 amid severe economic challenges driven by high debt, inflation, and currency depreciation. Since then, the country has implemented far-reaching reforms to rein in deficits, improve public financial management, and reset its growth trajectory.

The $370 million disbursement will help the government meet urgent budgetary needs and continue delivering essential public services, while advancing key reforms aimed at long-term sustainability.

“Our macroeconomic policies and structural reforms are not just plans on paper — they are delivering tangible results. The international community is watching, and they are responding with renewed confidence in Ghana’s future,” Dr. Forson noted.

The IMF’s approval comes at a critical time, as Ghana continues efforts to rebuild trust with creditors and investors after securing a debt restructuring agreement with official creditors earlier this year.

Observers see the Fund’s decision as a vote of confidence in Ghana’s ability to manage its recovery path responsibly and transparently.

As the country prepares for upcoming reviews under the ECF and continues negotiations with private creditors, the latest disbursement strengthens its position and offers hope for a sustained economic turnaround.

“Today marks another decisive step forward,” Dr. Forson concluded. “We are committed to ensuring that Ghana’s recovery benefits all citizens and sets the foundation for resilient, inclusive growth.”