Fifth Tranche of IMF Bailout Hits Ghana’s Account
Fifth IMF cash tranche strengthens reserves, fuels reforms, and sparks calls for investment in agriculture and infrastructure.
- IMF disburses $367M to Ghana after 4th programme review
- Funds to stabilize cedi, support budget, and build reserves
- Economists urge investment in agriculture and stalled infrastructure projects
The International Monetary Fund (IMF) has officially transferred $367 million to the Bank of Ghana following the successful completion of the fourth review under Ghana’s Extended Credit Facility (ECF) programme.
The transfer, confirmed on Wednesday, July 9, represents the fifth installment of the $3 billion package Ghana secured in 2023 to help stabilize its economy and restore debt sustainability.
This fresh disbursement is expected to reinforce the country’s foreign reserves, stabilize the cedi, and support critical budget operations, especially in areas like balance-of-payment obligations.
Launched in May 2023, the IMF programme was designed to help Ghana bounce back from a period of economic distress that included soaring inflation, rapid cedi depreciation, and unsustainable debt levels.
Under the deal, the IMF conducts periodic reviews to evaluate Ghana’s progress in fiscal discipline, structural reforms, and financial stability. Finance Minister Dr. Cassiel Ato Forson has hailed the nation’s performance under the programme, stating that Ghana has surpassed expectations, rebuilding both local and global investor confidence.
This latest funding release also comes as Ghana continues its debt restructuring discussions with international creditors and Eurobond holders under the G20 Common Framework—a critical requirement for the IMF programme’s continued success.
Experts, including economist Prof. Patrick Asuming, have advised the government to channel the funds into high-impact sectors such as agriculture and infrastructure to drive long-term economic growth and support the new 24-hour economy initiative.
