Ghana’s exit from its International Monetary Fund (IMF) support programme will not mark the end of the Fund’s engagement with the country, the IMF’s resident representative has said, pledging continued surveillance and technical assistance even after the lending arrangement concludes.
As the West African nation prepares to complete its programme under the IMF’s Extended Credit Facility (ECF), IMF Resident Representative to Ghana, Adrian Alter, said the institution would remain an active partner beyond the life of the programme.
“We will continue to be partners,” Alter said in an interview on Joy News’ PM Express Business Edition on Thursday, responding to questions about the IMF’s role once Ghana is no longer under an IMF-supported arrangement.
His remarks come amid growing public debate over Ghana’s economic direction after the IMF programme, which has heavily influenced fiscal policy, debt restructuring and broader macroeconomic reforms since its approval.
Ghana entered the ECF programme as part of efforts to stabilise an economy hit by high inflation, a sharp currency depreciation and mounting public debt. The programme has required strict fiscal discipline, revenue-enhancing measures and structural reforms aimed at restoring macroeconomic stability and rebuilding investor confidence.
Alter stressed that the IMF’s involvement with its member countries does not depend solely on lending arrangements, noting that economic surveillance remains a core function of the institution.
“The Fund has among its roles its surveillance, which is one of the key aspects,” he said.
Under IMF rules, all member countries are subject to regular economic monitoring, known as Article IV consultations, regardless of whether they are receiving financial support. Alter said this process would continue for Ghana after the programme ends.
According to him, the IMF will keep tracking Ghana’s economic performance, policy decisions and the implementation of reforms introduced under the ECF.
“Monitoring the economic developments, the reforms that will be implemented after the programme ends,” Alter said, outlining the scope of the Fund’s continued involvement.
He added that the IMF would also remain available to assist the Ghanaian authorities through technical support, particularly if new challenges emerge.
“And we stay ready to also assist the Government with technical assistance and other issues that may arise,” he said.
Technical assistance typically includes support in areas such as public financial management, revenue administration, debt sustainability, monetary policy and financial sector regulation.
Ghana is expected to exit the IMF programme after meeting agreed targets under the ECF, which was designed to restore fiscal discipline, reduce debt vulnerabilities and support sustainable economic growth.
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While the government has highlighted signs of macroeconomic improvement, including easing inflation and a stabilising currency, concerns remain over debt sustainability, social pressures and the durability of reforms once IMF oversight under the lending programme ends.
Economists say continued engagement with the IMF, even outside a formal financing arrangement, could help reassure investors and development partners about Ghana’s commitment to prudent economic management.
The IMF has maintained similar post-programme relationships with other countries, offering policy advice and monitoring economic developments without providing direct financial support.
Alter’s comments appear aimed at clarifying that Ghana’s exit from the programme should not be interpreted as a complete disengagement from the Fund, but rather a transition to a different form of relationship.
For Ghana, the post-programme period is expected to test the government’s ability to sustain reforms while addressing public expectations for economic relief, job creation and improved living standards.
As the programme draws to a close, attention is likely to focus on whether fiscal discipline can be maintained and whether growth gains can be consolidated without the constraints of an IMF-supported framework.
