Ato Forson confident Ghana’s economy will stabilise by May as IMF review begins

The International Monetary Fund (IMF) has begun its fourth review of Ghana’s economy under the Extended Credit Facility (ECF) programme, with Finance Minister Dr Cassiel Ato Forson expressing confidence that ongoing economic reforms could bring stability by May 2025.

The two-week review, which runs from April 2 to April 15, will assess Ghana’s economic performance and structural adjustments under the IMF-backed programme for 2023–2026.

According to a statement posted on the Ministry of Finance’s official Facebook page on Wednesday, April 2, 2025, the review started with discussions at the ministry and the Bank of Ghana, focusing on the country’s fiscal performance for 2024.

The IMF delegation will meet with senior government officials, the central bank, and other stakeholders to evaluate economic indicators such as inflation, monetary policy, and public financial management.

It will also examine Ghana’s progress in meeting IMF targets on debt restructuring and fiscal discipline.

The review’s outcome will determine whether the country qualifies for the next tranche of IMF financial support, which is crucial for maintaining economic stability.

Dr Forson said the government had introduced tax amendments, reformed public procurement processes, and implemented policies outlined in the 2025 Budget as part of efforts to strengthen the economy.

He expressed optimism that these measures, coupled with positive economic trends, could lead to stability by May.

“We have taken steps to improve public finances and restructure the economy. With the progress so far, we expect Ghana’s economy to stabilise by May 2025,” he said.

The IMF is expected to release its final statement on the review findings on April 15.