Ghana: a new agreement with the IMF to revive the economy

This progress could allow the disbursement of $385 million, bringing to $2.8 billion the total funds allocated to Accra since the program’s launch in 2023. The agreement, which still needs to be approved by the IMF’s Executive Board, is intended to bolster the country’s foreign exchange reserves and support ongoing fiscal reforms.

“Macroeconomic stabilization is taking hold”, the IMF says, noting a faster-than-expected recovery. Ghana’s growth in the first half of 2025 was supported by the expansion of services and strong agricultural output, while gold and cocoa exports, the main sources of foreign currency, improved markedly.

The IMF expects growth of 4.8% in 2026, with inflation kept within the Bank of Ghana’s target range. This support comes as the country continues efforts to reduce its budget deficit and restructure its external debt, after a severe financial crisis in 2022, with the aim of restoring investor confidence and stabilizing the cedi.