IMF Cautions Ghana: Economic Recovery Under ECF Programme Remains Fragile.

The IMF has raised concerns about Ghana’s economic progress under its Extended Credit Facility (ECF) program, warning that the current recovery remains fragile. While Ghana has made substantial progress, including growth recovery, a decline in inflation, and fiscal improvement, the IMF cautions that the situation is still delicate. This caution is underscored by challenges in the energy sector and uncertainties tied to the upcoming elections, which could affect the momentum of the reforms.

Despite these challenges, Ghana’s policy reforms have been praised, especially regarding public debt restructuring and fiscal consolidation. The country has made strides in reducing inflation, boosting growth, and achieving a more stable fiscal position. However, the IMF emphasizes that continued, steadfast reform implementation is essential for sustaining these gains and achieving long-term macroeconomic stability.

The IMF’s warning highlights the need for ongoing structural adjustments, including improving revenue mobilization and tackling energy sector issues, to ensure the country stays on track for a sustainable recovery  .