Ghana has successfully concluded its US$3 billion Extended Credit Facility (ECF) programme after the Executive Board of the International Monetary Fund (IMF) approved the country’s final review.
According to a press release issued by the Ministry of Finance on Monday, July 27, the approval unlocks a final disbursement of approximately US$371 million to the Bank of Ghana, bringing total disbursements under the programme to US$3 billion.
The Ministry said the successful completion of the programme reflects Ghana’s progress in restoring macroeconomic stability following the 2022 economic crisis. It noted that the government has maintained fiscal discipline, reduced inflation, strengthened external reserves, and implemented key structural reforms to support long-term economic growth.
With the ECF programme concluded, Ghana will transition to a 36-month, non-financing Policy Coordination Instrument (PCI) with the IMF. The new arrangement will provide policy support and help sustain investor confidence while advancing the government’s economic reform agenda without additional IMF financing.
The government expressed appreciation to the people of Ghana for their resilience, patience, and support throughout the reform programme. It also acknowledged the contributions of the IMF Executive Board, IMF Management and Staff, development partners, civil society, and the private sector.
The Ministry reaffirmed the government’s commitment to consolidating the gains made under the programme and implementing further reforms aimed at building a stronger, more resilient, and prosperous economy for all Ghanaians.
