An International Monetary Fund staff mission is expected in Accra from April 29, 2026, to conduct Ghana’s sixth and final review under its Extended Credit Facility (ECF) programme, marking a critical step toward the country’s planned exit from the bailout arrangement in August.
The delegation is scheduled to remain in the country for about two weeks, with formal engagements anticipated to begin on April 30. The visit comes as Ghana nears the conclusion of its three-year ECF programme, which was designed to restore macroeconomic stability, address debt vulnerabilities, and support structural reforms.
According to officials familiar with the process, the review will assess Ghana’s performance since the fifth review earlier this year, with particular attention to whether delayed targets and key structural reforms have been achieved or are close to completion.
On the fiscal side, discussions are expected to centre on developments in the energy sector, especially ongoing reforms and efforts to manage accumulated sector debt. The IMF team will also scrutinise government spending patterns, including allocations to priority areas such as social protection, amid concerns about maintaining fiscal discipline while protecting vulnerable groups.
A crucial component of the mission will involve agreeing on “prior actions” — policy steps Ghana must implement to qualify for the final tranche of IMF financial support. Successful completion of these conditions will be necessary for the country to conclude the programme.
In the monetary and financial sector, the mission is expected to review progress in resolving longstanding weaknesses within the banking system, including measures taken to strengthen financial stability and address legacy risks.
Following consultations in Accra, the IMF team will return to Washington, D.C. to analyse the data gathered. A report will then be prepared for IMF management and subsequently presented to the Executive Board for approval. This process typically takes between two and three weeks before a Board meeting is scheduled.
If the review is successfully completed and approved, it will clear the path for Ghana to formally exit the IMF-supported programme in August 2026.
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The programme had initially been set to conclude in May 2026, but authorities and the IMF agreed to extend it on technical grounds. The extension allows additional time to complete the final review, including the assessment of economic data for end-2025 and the first quarter of 2026.
Adrian Alter has described the extension as purely procedural, noting that it ensures a comprehensive evaluation of Ghana’s economic performance before programme closure.
