The Executive Board of the International Monetary Fund (IMF) has approved the final review of Ghana’s US$3 billion Extended Credit Facility (ECF) programme, bringing the country’s three-year bailout arrangement to a successful conclusion.
In a statement issued on Monday, July 27, 2026, the Ministry of Finance said the approval marks the completion of the programme, which began in May 2023 following Ghana’s 2022 economic crisis.
According to the Ministry, the IMF’s decision also unlocks a final disbursement of approximately US$371 million to the Bank of Ghana, bringing total disbursements under the programme to the full US$3 billion.
The government said the successful completion of the programme reflects significant progress in restoring macroeconomic stability. It noted that fiscal discipline has been maintained, inflation has declined, external buffers have been strengthened, and key economic reforms have been implemented to lay the foundation for sustained growth.
With the ECF programme completed, the government said Ghana will begin a new phase of engagement with the IMF under a 36-month, non-financing Policy Coordination Instrument (PCI).
The Ministry explained that the PCI will support the government’s reform agenda and help sustain confidence in the country’s economic policies without providing additional financial assistance.
The statement expressed appreciation to Ghanaians for their resilience, patience and continued support throughout the reform programme.
It also thanked the IMF Executive Board, IMF management and staff, development partners, civil society organisations, and the private sector for their support during the programme’s implementation.
The government reaffirmed its commitment to protecting the economic gains achieved so far and to pursuing further reforms aimed at building a stronger, more resilient, and more prosperous economy for all Ghanaians.