Finance Minister Dr Cassiel Ato Forson has announced that Ghana is on course to successfully conclude its three-year International Monetary Fund (IMF) bailout programme next week, describing the development as a major milestone in the country’s economic recovery efforts.
Presenting the 2026 Mid-Year Budget Review in Parliament on Thursday, July 23, Dr Forson said the IMF Executive Board is expected to approve the final review of Ghana’s Extended Credit Facility (ECF) programme, paving the way for the country to exit the financial support arrangement.
“Next week, the Executive Board of the IMF is expected to approve the final review of Ghana’s Extended Credit Facility programme, bringing to a successful conclusion the financial bailout IMF programme,” he told Parliament.
The Finance Minister said Ghana’s engagement with the IMF would not end with the completion of the ECF programme, explaining that government intends to transition to a Policy Coordination Instrument (PCI), a non-financing programme designed for countries that no longer face balance of payment challenges.
According to him, the PCI will serve as a framework to sustain economic reforms, strengthen macroeconomic stability and maintain fiscal discipline while supporting broad-based economic growth.
Dr Forson said the new arrangement will focus on six key priority areas, including growth-friendly fiscal consolidation, debt sustainability, fiscal transparency and governance, stronger monetary and exchange rate policy frameworks, financial sector stability, and economic diversification.
He noted that the PCI would also include quantitative performance targets and structural reform benchmarks, which would be assessed through semi-annual reviews to ensure the continued implementation of critical economic reforms.
The Finance Minister expressed confidence that Ghana’s performance under the IMF programme and the successful implementation of the PCI would improve investor confidence and strengthen the country’s prospects of regaining investment-grade status.
According to him, achieving that objective would enhance Ghana’s ability to attract concessional financing and development funding for critical public investment.
Dr Forson said the reforms implemented by the Mahama administration over the past 18 months had restored fiscal discipline, improved macroeconomic stability and rebuilt confidence in the Ghanaian economy.
“Ghana is not going back. Ghana is moving forward,” he declared, reaffirming government’s commitment to reforms aimed at securing long-term economic growth and prosperity.
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