Ghana ends IMF bailout programme ahead of schedule

Ghana has officially concluded its Extended Credit Facility programme with the International Monetary Fund, ending the country’s latest financial bailout arrangement.

The government said 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.

Ghana entered the IMF programme during a period of high inflation, mounting debt and a weakening local currency.

Officials said the programme, which had veered off course in late 2024, was stabilised after the administration of John Dramani Mahama took office in 2025.

The government introduced fiscal consolidation measures, reduced public spending and implemented reforms aimed at restoring macroeconomic stability, according to the Ministry of Finance.

Government spokesperson Felix Kwakye Ofosu said the reforms had produced 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 from restricted default status to a B rating with a positive outlook after five consecutive upgrades.

Gross international reserves reached about $14.5 billion by February 2026, enough to cover nearly six months of imports, the government said.

Ghana will continue to work with the IMF under a Policy Coordination Instrument, a non-financing arrangement designed to support reforms and provide technical guidance.

SOURCE: AN