IMF Backs Ghana’s post-programme future, says fiscal reforms will hold beyond 2026

The International Monetary Fund (IMF) has declared its confidence in Ghana’s ability to remain fiscally disciplined after the country exits its ongoing programme in May 2026.

At a press briefing in Washington, DC, the IMF’s Director of Communications, Julie Kozack, said Ghana’s reforms under the programme have laid a solid foundation for long-term economic stability and investor confidence.

“A revamped fiscal responsibility framework, the establishment of an independent fiscal council, and improvement in public financial management, which aims at improving and supporting the efficiency of public spending,” she highlighted, stressing that these measures were built to outlast the programme itself.

She explained that the new fiscal rules are binding and clear. “The Fiscal Responsibility Framework includes a primary balance rule that requires an annual primary fiscal surplus of at least 1.5% of GDP, and it also includes a public debt target of 45% of GDP,” she stated.

Kozack underscored that these benchmarks are not mere aspirations but enforceable commitments that will guide policymakers in safeguarding fiscal credibility in the years ahead. “This fiscal responsibility framework provides some guidance for policymakers as they seek to entrench fiscal discipline in Ghana,” she added.

The Ghanaian government has pledged to stay the course, assuring markets, investors, and donors that it will not reverse the gains once the programme ends.

Meanwhile, an IMF mission team led by Ruben Atoyan is currently in Accra for the fifth review of Ghana’s programme performance. Over the next two weeks, the team will hold intensive meetings with the Ministry of Finance and the Bank of Ghana to assess progress and determine the release of the next tranche of support.