The International Monetary Fund has approved a final payment of roughly 371 million US dollars to Ghana, marking the end of a three-billion-dollar rescue programme.
The international lender confirmed the release following its sixth and final review of the West African nation's economy. Fund officials described Ghana's performance under the three-year agreement as broadly satisfactory, pointing to stronger government finances, healthier foreign currency reserves, and substantial progress in restructuring national debt.
Ghana requested assistance from the lender in 2022 after soaring debt levels, rapidly rising inflation, and a falling currency pushed the economy into severe distress. The global economic fallout from the pandemic and rising energy prices following the conflict in Ukraine had worsened the situation.
The three billion dollar bailout package was formally approved in May 2023 to help stabilise public finances and rebuild investor trust.
President John Mahama won the national election in December 2024 during the height of the economic downturn. The country is a major exporter of gold and cocoa in the region.
International Monetary Fund Deputy Managing Director Bo Li stated that the comprehensive debt restructuring was largely complete. He added that Ghana's risk of debt distress has now dropped back to a moderate level.
The improved rating follows debt relief agreements reached with more than half of Ghana's bilateral government creditors. Discussions with private commercial lenders are still ongoing.
The board granted a technical waiver after the central bank exceeded a programme cap on credit provided to the government and public bodies.
Finance Minister Cassiel Ato Forson told parliament that the central bank credit limit was the single performance metric the country failed to meet during the final review period.
The Ministry of Finance stated that completing the programme demonstrated clear progress in restoring economic stability, highlighting improved spending discipline and stronger external buffers.
Ghana will now move to a non-financing policy coordination instrument with the lender. The framework supports ongoing policy reforms and signals economic stability to global investors without providing direct loans.
