Government announces the successful conclusion of Ghana’s Extended Credit Facility (ECF) programme with the International Monetary Fund, marking a major milestone in the country’s economic recovery and fiscal consolidation agenda.
The achievement reflects the restoration of macroeconomic stability and debt sustainability ahead of schedule, following decisive interventions by the President John Dramani Mahama administration to recalibrate and restore the programme after its derailment at the end of 2024.
Through frontloaded fiscal consolidation, bold expenditure rationalisation and structural reforms, Ghana has recorded significant gains, including declining inflation, a stronger cedi, improved economic growth, reduced public debt levels and enhanced sovereign credit ratings from restricted default to a ‘B’ rating with a positive outlook.
Ghana’s gross international reserves have also risen to an estimated US$14.5 billion as of February 2026, providing nearly six months of import cover and strengthening the country’s resilience against external shocks.
Government further announces Ghana’s transition to the IMF’s non-financing Policy Coordination Instrument (PCI), a technical assistance framework aimed at supporting economic reforms, boosting investor confidence and facilitating access to new financing opportunities without a financial bailout arrangement.
President John Dramani Mahama reaffirms his administration’s commitment to prudent economic management, fiscal discipline, good governance and creating an enabling environment for investment, job creation and sustainable development.
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