IMF, Ghana agree on fifth review, paving way for 385-mln-USD disbursement

Accra: The International Monetary Fund (IMF) said Friday it has reached an agreement with Ghanaian authorities on the fifth review of the country s ec...

Accra: The International Monetary Fund (IMF) said Friday it has reached an agreement with Ghanaian authorities on the fifth review of the country's economic reform program, paving the way for the possible disbursement of about 385 million US dollars.

Ruben Atoyan, head of the visiting IMF staff team in the capital, Accra, said Ghana's macroeconomic stability had strengthened, with growth in the first half of 2025 exceeding expectations, driven by robust services activity and agricultural output.

He said the external sector had also improved on the back of strong exports, particularly gold and cocoa, enabling a continuous improvement in the accumulation of international reserves, which exceeded the targets set under the country's reform program.

"The positive momentum is expected to continue into 2026, with growth projected at 4.8 percent. Inflation is forecast to remain within the Bank of Ghana's target band of 8±2 percent, allowing for gradual monetary policy normalization," the IMF official said.

He added that Ghana's solid current account surplus would continue to support reserve accumulation, "though external risks remain significant largely on account of lingering uncertainty of commodity prices for Ghana's key exports."