Online Reporter
Ghana will receive another US$367 million disbursement from the International Monetary Fund after passing the fourth review of its US$3 billion programme with the Washington-based lender.
The IMF’s Executive Board said on Monday that it had approved a staff-level agreement reached with Africa’s top gold producer in April, paving the way for this fresh installment. This brings the total funding from the IMF since Ghana’s extended credit facility started in May 2023 to about US$2,3 billion, it said.
“The new authorities have adopted strong corrective measures to address the fiscal impact of 2024 slippages and ensure the fiscal programme remains on track,” the fund said. “Several public financial management reforms will ensure alignment of spending commitments to available resources.”
Reforms to comply with the IMF programme, higher gold prices that have helped the country build foreign exchange reserves and a commitment to fiscal discipline under a new administration are helping to stabilise Ghana’s economy after a debt crisis forced it to default in 2022.
Inflation eased to 13,7 percent in June, the lowest in more than three years as the local currency’s 42 percent appreciation against the US dollar this year helped to tame price growth. The economy grew 5,3 percent in the first three months of 2025, compared with 3,6 percent in the previous three months, driven by gold and cocoa production.
The West African nation’s economy could get further boost from possible interest-rate cuts by the Bank of Ghana this year, after the latest cooler reading on price pressures elevated its real, or inflation-adjusted interest rate to among the highest of 58 countries tracked by Bloomberg. — Bloomberg
