Online Reporter
Ghana has officially concluded its Extended Credit Facility (ECF) programme with the International Monetary Fund (IMF), marking the end of the country’s latest financial bailout arrangement after years of economic turbulence.
The government says the programme ended ahead of schedule following what it described as a strong economic turnaround driven by fiscal discipline, structural reforms and improved investor confidence.
The West African nation entered the IMF programme at a time of soaring inflation, mounting debt pressures and a weakening local currency, conditions that pushed millions of Ghanaians deeper into economic hardship.
Officials say the programme, which had reportedly veered off course in late 2024, was stabilised after the administration of John Dramani Mahama took office in 2025.
According to the Ministry of Finance, the government introduced aggressive fiscal consolidation measures, reduced public spending and implemented reforms aimed at restoring macroeconomic stability.
Government spokesperson Felix Kwakye Ofosu said the reforms had produced visible economic gains, including lower inflation, a stronger cedi and a decline in public debt relative to gross domestic product. He added that Ghana’s sovereign credit ratings had improved significantly, moving from restricted default status to a “B” rating with a positive outlook after five consecutive upgrades.
The authorities also pointed to growing foreign reserves as a key sign of recovery.
Gross international reserves reached approximately US$14,5 billion by February 2026, enough to cover nearly six months of imports, according to the government. — Africanews
Bongani Ndlovu