Ghana’s macroeconomic performance in 2025 has outperformed expectations, with key indicators showing greater than expected results, according to the International Monetary Fund.
On Joy News’ PM Express Business Edition on Thursday, IMF Resident Representative in Ghana, Dr Adrian Alter, stated that the country’s programme remains stable and on track, following the successful conclusion of the fifth review under the Extended Credit Facility.
His remarks come amid continuous public discussion over whether Ghana’s outstanding performance under the IMF programme indicates genuine economic development or leniency from the fund.
Dr Alter refuted this concept, emphasising that the Board’s assessment was based on results achieved within the program framework.
“The authorities implemented strong corrective actions in the aftermath of the 2024 fiscal slippages, and the 2025 macroeconomic outcomes have been better than expected,” he said.
Dr. Alter said that on December 17, the IMF Board approved Ghana’s programme, calling overall performance as “generally satisfactory.”
He stated that all indicated and performance criteria targets had been met.
“All indicative and performance criteria targets have been met, and most of the reform agenda has been concluded and implemented,” he noted.
The approval enabled a further distribution at the end of December, bringing the total IMF support under the ECF programme to around $2.8 billion.
“Ghana’s programme remains solid and on track with the fifth review being completed, and disbursement being done at the end of December,” stated Dr. Alter.
He cited broad-based gains throughout the economy, adding that inflation decreased quicker than expected while economic growth exceeded expectations.
“Inflation came down faster than expected. Growth exceeded expectations,” he explained.
He stated that Ghana’s external position had also improved over this time.
“Reserves have improved. The currency appreciated and stabilised,” he stated.
He stated that a number of indicators concurrently displayed favourable outcomes, demonstrating the effects of policy changes and reforms made as part of the IMF-backed initiative.
He stated, “There are many, many macroeconomic indicators that perform very well at the same time,”
Dr. Alter added that Ghana’s debt restructuring was making headway, bolstering macroeconomic stability and boosting program confidence.
Source: newsthemegh.com