Ghana has received a significant boost to its economic recovery efforts as the International Monetary Fund (IMF) Executive Board has approved the country’s fourth review under the Extended Credit Facility (ECF) Programme.

The approval clears the way for the disbursement of approximately $370 million, according to Finance Minister Dr Cassiel Ato Forson.

Announcing the development on Monday, 7 July, Dr Forson hailed the approval as a major milestone in Ghana’s economic transformation journey.

The IMF Executive Board has just approved Ghana’s 4th Review under the ECF Programme, clearing the path for a substantial $370 million disbursement!

This landmark approval validates Ghana’s unwavering commitment to fiscal discipline and strategic economic transformation.

Our…

— Cassiel Ato Forson (PhD) (@Cassielforson) July 7, 2025

“This landmark approval validates Ghana’s unwavering commitment to fiscal discipline and strategic economic transformation,” he posted on social media.

He noted that the country’s “comprehensive macroeconomic policies and carefully crafted structural reforms are delivering real results that the international community recognises and supports.”

The ECF Programme has been central to Ghana’s strategy for stabilising the economy, reducing inflation, and restoring investor confidence.

Dr Forson described the IMF’s endorsement as a “decisive step forward in Ghana’s economic recovery journey”, adding that the reform agenda is “not just working – it’s exceeding expectations and rebuilding confidence in our nation’s financial future.”

The disbursement is expected to bolster the country’s reserves, strengthen fiscal management, and support pro-growth interventions.