The International Monetary Fund’s Executive Board has approved Ghana’s 4th Review under the Extended Credit Facility (ECF) Programme, unlocking a significant $370 million disbursement that signals growing international confidence in the West African nation’s economic recovery efforts.
The approval, announced by Ghana’s Finance Minister, Dr Cassiel Ato Forson, represents the fifth tranche of funding under the ECF arrangement and comes as Ghana continues to demonstrate measurable progress in implementing comprehensive economic reforms.
“This landmark approval validates Ghana’s unwavering commitment to fiscal discipline and strategic economic transformation”, the Finance Minister said
He added that “Our comprehensive macroeconomic policies and carefully crafted structural reforms are delivering real results that the international community recognizes and supports.”
The IMF’s decision follows a thorough review of Ghana’s economic performance and adherence to program targets.
The approval demonstrates that Ghana has successfully met the Fund’s benchmarks for fiscal consolidation, debt sustainability measures, and structural reform implementation.
Ghana entered the ECF Programme as part of broader efforts to stabilise its economy and restore macroeconomic balance following significant fiscal challenges.
Credit: joyonline