The International Monetary Fund (IMF) has praised the Ghanaian government for taking bold corrective steps to reverse fiscal slippages and realign with the objectives of the US$3 billion Extended Credit Facility (ECF) programme.
The commendation follows the conclusion of a two-week IMF staff mission to Accra, led by Mission Chief Stéphane Roudet, which resulted in a staff-level agreement on the fourth review of the programme.
This paves the way for the disbursement of about US$370 million, pending approval by the IMF Executive Board.
In its statement, the IMF acknowledged a shift in fiscal discipline under the new administration, highlighting efforts to correct earlier deviations from programme targets. "Against this backdrop, the new authorities have taken bold measures to address policy slippages and ensure the program objectives remain within reach," the IMF noted.
