Governor of the Bank of Ghana, Dr. Johnson Asiama, has expressed confidence that Ghana will successfully to exit the IMF bailout Programme by 2026, following sustained progress toward macroeconomic stability.
Speaking at the IMF Annual Meetings in Washington, D.C., Dr. Asiama said the country’s economic recovery is ahead of schedule, signalling that Ghana has moved past its most difficult period.
“I am happy today that eight months down the road, we have turned the corner. Ghana is back. We are running ahead of programme targets for the year, and we are happy to announce that we will be able to exit the Fund programme come next year,” he stated.
Ghana entered the $3 billion IMF Extended Credit Facility (ECF) in 2023 following a post-pandemic economic crisis that triggered severe fiscal and debt distress. As the programme nears completion, Dr. Asiama reflected on lessons learned from the crisis and the reforms introduced to prevent a recurrence.
“The experience we’ve had is significant. It should never happen again. When I cast my mind back to 2022, it’s something we could have avoided. But going forward, we’re building back better. We’ve strengthened legislation to reinforce the Bank of Ghana’s independence,” he explained.
The Governor said the central bank is now focused on ensuring institutional agility and resilience to navigate emerging global and domestic risks.
“The next thing is to have a central bank that is agile, ready, and able to contend with the new challenges that most central banks face. What I want to see is a central bank that can adapt,” he added.
A combination of tight monetary policy, fiscal discipline, and structural reforms, he noted, will remain central to Ghana’s post-IMF recovery strategy.
