Ghana’s programme with the International Monetary Fund (IMF) remains strong and on track, the IMF Resident Representative in Ghana, Dr. Adrian Alter, has confirmed. This follows the successful completion of the fifth review under the Extended Credit Facility (ECF) arrangement.

Speaking on Joy News’ PM Express Business Edition on Thursday, Dr. Alter said the IMF Executive Board had completed its assessment of Ghana’s performance, approved the review, and unlocked further disbursements, signalling confidence in the country’s economic recovery.

“Ghana’s programme remains solid and on track with the fifth review completed, and disbursement processed at the end of December,” he said. “The IMF board approved the programme on December 17 and rated Ghana’s overall performance as generally satisfactory.”

He revealed that total disbursements under the ECF programme have now reached approximately $2.8 billion. “All indicative and performance criteria targets have been met,” Dr. Alter noted. “Most of the reform agenda has been concluded and implemented.”

Dr. Alter’s remarks come amid public debate over whether Ghana’s performance under the IMF programme reflects genuine economic progress or favourable treatment by the Fund. Responding to these concerns, he emphasised that the assessment is based on measurable outcomes and recent policy actions by Ghanaian authorities.

“The authorities implemented strong corrective measures following the 2024 fiscal slippages,” he said, adding that “the 2025 macroeconomic outcomes have been better than expected.”

He highlighted improvements across key economic indicators, including faster-than-expected reductions in inflation, stronger-than-anticipated economic growth, improved reserves, and a stabilised, appreciating currency.

Dr. Alter also noted that these gains have been achieved alongside progress in debt restructuring. “Many macroeconomic indicators are performing very well while debt restructuring continues to advance,” he said.

The IMF’s assessment reflects months of fiscal adjustments and policy reforms under the ECF programme, as Ghana works to restore economic stability following a prolonged crisis.