ACCRA, May 15 – Ghana and the International Monetary Fund on Friday reached a staff-level agreement on the sixth and final review of the West African nation’s support programme, bringing the country closer to concluding its financial bailout arrangement with the lender.
The agreement, announced Friday, remains subject to approval by the IMF Executive Board.
Ghana’s presidency described the development as marking the “end of Ghana’s financial bailout relationship with the IMF,” according to a government statement.
The IMF said in a separate statement that Ghanaian authorities had also requested a non-financing Policy Coordination Instrument, a framework designed to support economic reforms and policy credibility without additional IMF funding.
The latest agreement comes after Ghana undertook a series of fiscal reforms, debt restructuring measures and monetary tightening efforts aimed at stabilizing an economy that had been hit by surging inflation, currency weakness and mounting debt pressures.
The country secured a $3 billion IMF support programme in 2023 after falling into one of its worst economic crises in decades, which forced the government to restructure both domestic and external debt obligations.
Since then, Ghana has recorded easing inflation, improving foreign reserves and stronger fiscal performance, while benefiting from higher gold production and recovering investor confidence.
The government has increasingly signaled its intention to transition away from emergency financing arrangements toward a framework focused on economic coordination, fiscal discipline and market-driven growth.
