IMF Approves Staff-Level Agreement with Ghana, Paves Way for $370m Disbursement

Accra, Ghana - 16 June, 2025 - The International Monetary Fund (IMF) is set to review Ghana's fourth programme assessment under the Extended Credit Facility (ECF) in early July, paving the way for a significant disbursement of approximately $370 million. This funding, pending approval by the IMF Executive Board, will bring the total amount disbursed to Ghana under the programme to around $2.4 billion since its inception in 2023.

According to Julie Kozack, IMF Communications Director, the review aims to support Ghana's economic recovery and debt sustainability agenda. The IMF staff has already reached a staff-level agreement with Ghanaian authorities on the fourth review, and the Executive Board's approval is expected to unlock the funds soon.

The IMF is also closely monitoring Ghana's economic indicators, including the recent appreciation of the cedi against major foreign currencies. Kozack noted that the Fund will assess the currency's performance in future reviews to ensure Ghana's economic targets remain on track.

“On April 15, the IMF staff and Ghanaian authorities reached a staff level agreement on the fourth review of Ghana’s extended credit facility. Upon approval by our executive board, Ghana will be scheduled to receive about $370 million, bringing total support under the ECF to $2.4 billion since May of 2023. We anticipate bringing review to our board early July so in just a few weeks,” IMF Communications Director Julie Kozack said at a press briefing.

“As we look at the programme, we assess all developments including the exchange rate. Future programme reviews will allow our teams to carefully evaluate the evolving macroeconomic and financial conditions and confirm whether the programme’s targets remain appropriate and achievable,” Kozack said.

The ECF programme is designed to provide Ghana with financial support and technical assistance to address its economic challenges

Source: Lead News Online