IMF urges countries to follow Ghana’s economic recovery model
The IMF has praised Ghana's economic recovery under its Extended Credit Facility program, citing significant improvements in inflation and debt management. The organization is now encouraging other nations facing economic crises to adopt similar reform strategies.
Why it matters
It highlights the success of international financial intervention in stabilizing developing economies and provides a blueprint for fiscal policy.
The International Monetary Fund (IMF) has urged other countries to emulate Ghana’s economic recovery efforts, describing the country’s performance under the Extended Credit Facility (ECF) programme as a great success.
The IMF explained that Ghana’s progress in economic management demonstrated the value of the reforms undertaken under the $3 billion Extended Credit Facility (ECF) programme.
“I want to first commend you on how you are performing.
The ECF was a great success,” the Director of the IMF’s African Department, Zeine Zeidane, said after a meeting with the Minister of Finance, Dr Cassiel Ato Forson, on the sidelines of the IMF-World Bank Annual Meetings in Bangkok, Thailand, yesterday.
The IMF Africa Director stressed that following the successful completion of the ECF programme in July 2026, Ghana had transitioned to a non-financial 36-month policy coordination instrument (PCI) to sustain policy discipline, lower borrowing costs and provide technical assistance.
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