US$367 Million IMF Funds Credited To Bank Of Ghana Account

Approximately US$367 million from the International Monetary Fund (IMF) has been credited to the Bank of Ghana’s account as of today, July 9, 2025.

This update was confirmed by JoyBusiness through sources familiar with Ghana’s ongoing IMF programme.

The disbursement follows the IMF Executive Board’s completion of the fourth review of Ghana’s programme in Washington, D.C., on July 7, 2025.

With this latest tranche, Ghana has now received around US$2.3 billion in total under the Extended Credit Facility (ECF) arrangement.

This marks the fourth instalment of IMF funding since Ghana formally joined the programme on May 17, 2023.

The immediate effect of this inflow will be seen in the Bank of Ghana’s international reserves, strengthening its capacity to support the Ghanaian cedi.

Although some observers describe the reserve boost as modest, it could still play a significant role in stabilising the local currency.

In contrast to previous practices where IMF funds were primarily allocated for balance of payments support, this fourth tranche will also be used to finance specific projects outlined in the national budget.

According to sources, the Bank of Ghana will convert the US$367 million into its cedi equivalent and transfer it to the Finance Minister, Dr. Ato Forson, for project implementation.

Following the approval of the disbursement, the IMF Board noted that the current administration has implemented strong corrective measures to address fiscal slippages from 2024. These steps are aimed at keeping the fiscal programme on track and achieving a primary surplus of 1.5% of GDP by 2025.

This goal is expected to be met through enhanced revenue mobilisation and prudent spending while ensuring vulnerable populations are shielded from the adverse effects of fiscal adjustments.

The IMF also highlighted several ongoing public financial management reforms. These include improved budgetary controls and a full audit of outstanding payments accumulated by the end of 2024, which will help align government spending with available resources.

Looking ahead, the IMF board reaffirmed the government’s commitment to financial stability and structural reforms. These reforms are intended to foster a more investment-friendly environment, strengthen governance, stimulate economic growth, and support sustainable job creation.

IMF approves $367 million disbursement to Ghana after fourth review https://t.co/l5JgfajrNY https://t.co/l5JgfajrNY

— Reuters World (@ReutersWorld) July 8, 2025

Source: MyjoyOnline