Ghana’s programme with the International Monetary Fund remains solid and firmly on track, according to the IMF Resident Representative in Ghana, Dr Adrian Alter.

This follows the completion of the fifth review under the Extended Credit Facility arrangement.

Speaking on Joy News’ PM Express Business Edition on Thursday, Dr Alter said the IMF Executive Board had completed its assessment and approved the review, unlocking further disbursements and affirming confidence in Ghana’s economic recovery path.

“Ghana’s programme remains solid and on track with the fifth review being completed, and disbursement being done at the end of December,” he said.

“The IMF board has met and approved the programme on December 17 and categorised the overall performance of Ghana as generally satisfactory.”

He disclosed that total disbursements under the ECF programme had now reached about $2.8 billion.

“All indicative and performance criteria targets have been met,” Dr Alter said. “Most of the reform agenda has been concluded and implemented.”

His comments come amid public debate over whether Ghana’s performance under the programme reflects real economic progress or favourable treatment by the IMF.

Responding to that concern, Dr Alter said the assessment was grounded in measurable outcomes and recent policy actions by the authorities.

“The authorities implemented strong corrective actions in the aftermath of the 2024 fiscal slippages,” he said, adding that “the 2025 macroeconomic outcomes have been better than expected.”

He pointed to improvements across key economic indicators.

“Inflation came down faster than expected,” he said. “Growth exceeded expectations. Reserves have improved. The currency appreciated and stabilised.”

Dr Alter said the gains were occurring alongside progress on debt restructuring.

“There are many, many macroeconomic indicators that perform very well at the same time the debt restructuring progress has been advanced,” he said.

The IMF assessment follows months of fiscal adjustments and policy reforms under the ECF programme, as Ghana works to restore stability after a prolonged economic crisis.