By Francis Ntow, GNA Special Correspondent, Bangkok
Bangkok, Oct. 16, GNA – The International Monetary Fund (IMF) has commended Ghana’s economic recovery, urging other countries to emulate its progress under the Extended Credit Facility (ECF) programme.
The Fund has raised Ghana’s 2026 growth forecast to 5.7 per cent from 4.6 per cent projected in April, placing the country among sub-Saharan Africa’s 10 fastest-growing economies.
Mr Zeine Zeidane, Director of the IMF’s African Department, gave the commendation during a meeting with Finance Minister Dr Cassiel Ato Baah Forson on the sidelines of the 2026 IMF/World Bank Group Annual Meetings in Bangkok on Thursday.
“I want to first commend you on how you are performing. The ECF (Extended Credit Facility) was a great success… we tell others to follow your steps,” he said.
Mr Zeidane said the completion of the ECF programme and reforms to strengthen economic management had improved Ghana’s economic position.
“Ghana is in a very good place,” he said.
Mr Zeidane also praised the use of artificial intelligence in customs administration. The Ghana Revenue Authority says the initiative, introduced in April 2026, has increased monthly customs revenue by about US$100 million.
He commended reforms involving state-owned enterprises, which recorded total revenue of GH¢176.43 billion in 2025, up 28.12 per cent from GH¢137.64 billion in 2024.
Mr Zeidane also welcomed the reduction in Ghana’s debt-to-GDP ratio to 45 per cent as of June 2026, following stock-flow adjustments.
Dr Forson reaffirmed the Government’s commitment to fiscal discipline and reforms, expressing confidence that growth would exceed the IMF’s revised forecast.
“The IMF has upgraded Ghana’s 2026 growth forecast from 4.6% to 5.7%. We are confident we will exceed that projection,” he stated.
Dr Forson said Ghana would pursue investment and financing opportunities under the proposed New Economy agenda, which seeks to advance value addition, industrialisation, global competitiveness and job creation.
GNA
Edited by Kenneth Sackey
Reporter: Francis Ntow
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