The Executive Board of the International Monetary Fund (IMF) has completed the third review of Ghana’s $3 billion Extended Credit Facility (ECF) program, which began in May 2023.
This milestone allows for the immediate disbursement of Special Drawing Rights (SDR) 269.1 million (approximately $360 million), increasing total disbursements under the program to about $1.9 billion. The funds are expected to reach the Bank of Ghana by the end of the week.
The IMF highlighted positive outcomes from Ghana’s economic reforms and policy adjustments under the program. Deputy Managing Director Bo Li praised the country’s economic strategy, stating it is “delivering on its objectives,” with improvements in growth and fiscal performance.
The program has served as a framework for macroeconomic adjustments and critical reforms designed to restore stability, ensure debt sustainability, and promote inclusive growth.
