The International Monetary Fund (IMF) announced, in a statement published on Friday, October 4, 2024, that it has reached an agreement with the Ghanaian authorities concerning the economic policies and reforms necessary for the third review of its three-year program, supported by the Extended Credit Facility (ECF). This review, once approved by IMF management and executive board, will provide Ghana with access to approximately $360 million.

A team from the International Monetary Fund (IMF), led by Mr. Stéphane Roudet, Head of Mission for Ghana, held meetings in Accra from 24 September to 4 October 2024, to discuss the progress of reforms and the authorities' policy priorities as part of the third review of Ghana's three-year programme under the Facility & extended credit. The agreement was approved by the IMF Executive Board for a total amount of SDR 2.242 billion (3 billion US dollars) on May 17

At the end of the mission, Mr. Roudet said that IMF staff and the Ghanaian authorities had reached an agreement at the IMF staff level on the third review of Ghana's economic program on the third review of Ghana's economic program under the Extended Credit Facility agreement. This agreement at the IMF staff level is subject to the approval of IMF management and review by the Executive Board.

The results obtained under the IMF-supported program were generally satisfactory. All the quantitative objectives at the end of June 2024 have been met and the main structural reforms have continued to progress, despite delays in a few areas. Policy and reform efforts by the authorities under the programme continued to produce encouraging results

IMF staff met with Finance Minister Adam, Bank of Ghana Governor Addison and their teams, as well as representatives of various government agencies. The IMF team also established contacts with other stakeholders. The IMF team wishes to express its appreciation to the Ghanaian authorities and other partners for their continued, open, and constructive engagement