The International Monetary Fund (IMF) Executive Board has approved the final review of Ghana’s US$3 billion Extended Credit Facility (ECF) programme, officially bringing the country’s bailout programme to a successful conclusion.
In a statement issued by the Ministry of Finance on Monday, July 27, 2026, the government said the approval unlocks a final disbursement of approximately US$371 million to the Bank of Ghana, bringing total disbursements under the programme to US$3 billion.
The ECF programme, which began in May 2023 following Ghana’s 2022 economic crisis, was introduced to restore macroeconomic stability and support the country’s economic recovery.
According to the Ministry, the successful completion of the programme reflects significant progress in strengthening fiscal discipline, reducing inflation, improving external reserves, and implementing key structural reforms to lay the foundation for sustainable economic growth.
With the bailout programme now completed, Ghana will transition to a new phase of engagement with the IMF through a 36-month, non-financing Policy Coordination Instrument (PCI). The government said the arrangement will support ongoing economic reforms while helping to maintain investor and market confidence without additional IMF funding.
The government also expressed gratitude to Ghanaians for their resilience and patience throughout the reform process and thanked the IMF, development partners, civil society, and the private sector for their continued support.
It reaffirmed its commitment to safeguarding the gains made under the programme and pursuing reforms aimed at building a stronger, more resilient, and more prosperous economy.
By: Bernard Mensah
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