The International Monetary Fund (IMF) Executive Board has approved the final review of Ghana’s US$3 billion Extended Credit Facility (ECF) programme, marking the successful conclusion of the bailout initiative launched in May 2023 in response to the 2022 economic crisis.
The approval, announced on Monday, July 27, 2026, unlocks a final disbursement of US$371 million to the Bank of Ghana, bringing total disbursements under the programme to US$3 billion.
According to the Ministry of Finance, the completion of the programme reflects Ghana’s significant progress in restoring economic stability. Government measures have included fiscal discipline, inflation reduction, stronger external buffers, and key reforms that lay the foundation for sustained growth.
With the ECF now completed, Ghana will transition into a new phase of engagement with the IMF through a 36‑month, non‑financing Policy Coordination Instrument (PCI). The PCI is designed to support ongoing reforms and bolster confidence in Ghana’s economic management without direct financial assistance.
Government expressed gratitude to citizens for their resilience and support throughout the programme period, and acknowledged the IMF Executive Board, management, staff, and development partners for their cooperation. Officials pledged to safeguard the gains achieved and pursue further reforms to build “a stronger, resilient, and more prosperous economy for all Ghanaians.”
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