The International Monetary Fund (IMF) has scheduled its Executive Board review of Ghana’s fourth programme assessment under the Extended Credit Facility (ECF) for early July 2025.
If approved, the review will unlock a $370 million disbursement, bringing total IMF support to approximately $2.4 billion since the programme’s launch in May 2023.
The review is a key milestone in Ghana’s economic recovery and debt sustainability efforts under the ongoing IMF-supported reform agenda.
“On April 15, IMF staff and the Ghanaian authorities reached a staff-level agreement on the fourth review. Upon Executive Board approval, Ghana will receive around $370 million,” said Julie Kozack, Director of IMF Communications, at a recent press briefing.
“We anticipate presenting the review to the Board in early July in just a few weeks.”
In the meantime, the IMF is closely monitoring Ghana’s recent currency gains, as the cedi has shown notable appreciation against major foreign currencies after a period of sustained depreciation.
“As we assess the programme, we review all key developments, including exchange rate movements, future programme reviews will evaluate Ghana’s evolving macroeconomic and financial conditions to ensure that the targets remain appropriate and achievable,” Kozack explained.
The IMF’s financial support is part of Ghana’s broader strategy to restore macroeconomic stability, manage public debt, and promote sustainable growth.