IMF Board completes sixth and final review of Ghana $3b loan facility, approves about $371m

The IMF at the time of the loan approval, stated that large external shocks had exacerbated Ghana’s pre-existing fiscal and debt vulnerabilities, resulting in a loss of international market access, increasingly constrained domestic financing, and reliance on monetary financing of the government.

The IMF Executive Board Monday July 27, 2026 completed the sixth and final review of Ghana’s 39-month loan programme under its Extended Credit Facility (ECF), and reviewed the request of a 36-month Policy Coordination Instrument (PCI).

The statement indicated that in completing the review, the Executive Board approved a waiver of non-observance of the end-December 2025 performance criteria pertaining to the ceiling on Bank of Ghana claims on the central government and public entities that was temporarily breached by a small margin due to cost-sharing arrangements under the domestic gold purchase programme, based on the temporary nature of deviation and corrective actions carried out by the authorities.