The International Monetary Fund has acknowledged significant progress in Ghana’s efforts to stabilise its economy and restore debt sustainability, though it cautioned that underlying vulnerabilities remain.
The assessment comes as the West African nation continues to implement the Extended Credit Facility (ECF) arrangement approved in May 2023, which has been instrumental in easing acute financing pressures.
This development follows Ghana’s recent strategy of settling external debt ahead of schedule, including a $700 million Eurobond repayment that aimed to rebuild credibility in international capital markets.
According to the IMF, the programme has facilitated substantial fiscal consolidation, restored credibility in monetary policy, and supported the accumulation of foreign exchange reserves.
These measures have helped anchor macroeconomic stability after a period of severe economic stress.
The Fund’s latest review underscores that while the immediate crisis has been contained, the path to full recovery requires sustained discipline.
This development follows Ghana’s recent strategy of settling external debt ahead of schedule, including a $700 million Eurobond repayment that aimed to rebuild credibility in international capital markets.