Vice President Dr. Mahamudu Bawumia’s economic reforms have received high praise from the International Monetary Fund (IMF) as Ghana secures a crucial $360 million disbursement.
This funding is part of the US$3 billion Extended Credit Facility (ECF) Arrangement, reflecting Ghana’s commitment to economic stabilization and growth.
The IMF Executive Board’s recent second review of the 36-month ECF Arrangement, initially approved in May 2023, marked a significant achievement for Ghana. Deputy Managing Director Kenji Okamura highlighted Ghana’s strong performance, stating, “Ghana’s performance under its ECF-supported reform program has been generally strong.
The authorities’ strategy aimed at restoring macroeconomic stability and reducing debt vulnerabilities is paying off, with clear signs of stabilization emerging.”
Dr. Bawumia’s leadership has been pivotal in addressing Ghana’s economic challenges. The IMF-supported program has provided a credible anchor, enabling the government to implement vital reforms to restore macroeconomic stability and debt sustainability.
These reforms have laid the groundwork for higher and more inclusive growth.
