Ghana has received approval from the IMF Board for the second review of its post-COVID-19 Programme for Economic Growth (PC-PEG).
This approval means Ghana will immediately receive about US$360 million.
The IMF praised Ghana’s overall strong performance under the program, noting that it met all major performance criteria and nearly all targets. Progress in restructuring debt and advancing structural reforms was highlighted.
The IMF statement also pointed out that Ghana’s reform efforts are yielding positive results, with stronger-than-expected economic growth, a significant decline in inflation from 2022 levels, and improved fiscal and external positions.
Minister of Finance Dr. Mohammed Amin Adam affirmed Ghana’s dedication to implementing robust reform measures for macroeconomic stability.
He credited President Nana Addo Dankwa Akufo-Addo for his leadership and thanked the IMF for its support to Ghana.
“Ghana has today secured IMF Board Approval for the 2nd review of the IMF-supported PC-PEG. This will trigger the release of the third tranche of $360million under the ECF. We remain committed to implementing our strong reform programme, towards ensuring macroeconomic stability.”
“I thank the President for his strong leadership; the IMF for their commitment to Ghana; our bilateral & development partners for their staunch support;& all the hardworking staff of the @MoF_Ghana for their tireless efforts to entrench Ghana’s economic stability #GhanaRising,” he said.
