{"id":115662,"date":"2025-07-08T07:00:39","date_gmt":"2025-07-08T11:00:39","guid":{"rendered":"https:\/\/africatodaynewsnewyork.com\/?p=115662"},"modified":"2025-07-08T07:00:39","modified_gmt":"2025-07-08T11:00:39","slug":"ghanas-reforms-debt-restructuring-applauded-by-imf","status":"publish","type":"post","link":"https:\/\/africatodaynewsnewyork.com\/2025\/07\/08\/ghanas-reforms-debt-restructuring-applauded-by-imf\/","title":{"rendered":"Ghana\u2019s Reforms, Debt Restructuring Applauded By IMF"},"content":{"rendered":"

The International Monetary Fund (IMF)<\/a> on Monday noted that Ghana is making tangible progress in its ongoing economic overhaul and debt restructuring efforts, initiated six months ago to stabilise the country\u2019s battered finances.<\/strong><\/p>\n

This positive assessment comes as President John Mahama, who took office in January, continues to steer West Africa\u2019s second-largest economy out of its deepest financial crisis in decades. Despite its vast gold and cocoa resources, Ghana has been grappling with rising debt levels, currency depreciation, and fiscal deficits that have strained livelihoods and dampened investor confidence.<\/p>\n

\u201cThe new authorities have responded decisively to secure achievement of the program targets and keep the structural reform agenda on track,\u201d the IMF said in a statement, announcing the completion of the fourth review of the country\u2019s extended credit facility arrangement.<\/p>\n

That review allows for the release of the latest tranche towards the $3 billion rescue package.<\/p>\n

The Ghana finance ministry hailed the approval, \u201cclearing the path for a substantial $370 million disbursement!\u201d<\/p>\n

\n

Read also: Nigeria\u2019s Inflation Rate Will Drop To 14% by 2029 \u2013 IMF<\/a><\/strong><\/h1>\n<\/blockquote>\n

Ghana\u2019s Ministry of Finance has described the IMF\u2019s latest endorsement as a clear affirmation of the country\u2019s dedication to fiscal responsibility and transformative economic policies. Sharing the development on X, the ministry stated that the approval represents a crucial milestone in Ghana\u2019s quest for economic stability and growth.<\/p>\n

\u201cThis is a defining moment in our nation\u2019s journey towards full economic recovery,\u201d the ministry noted.<\/p>\n

Since his overwhelming victory in December\u2019s polls, President John Mahama has pledged to recalibrate Ghana\u2019s economy, focusing on revitalisation and renegotiating aspects of its $3 billion arrangement with the IMF.<\/p>\n

In its assessment, the IMF observed that the new leadership has sustained progress in its debt restructuring initiatives.<\/p>\n

Highlighting the government\u2019s efforts, IMF Deputy Managing Director for Ghana, Bo Li, acknowledged that despite significant policy lapses and delays towards the end of 2024, the administration has implemented decisive measures to keep the programme on course.<\/p>\n

Africa Today News, New York<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The International Monetary Fund (IMF) on Monday noted that Ghana is making tangible progress in its ongoing economic overhaul and debt restructuring efforts, initiated six months ago to stabilise the country\u2019s battered finances. This positive assessment comes as President John Mahama, who took office in January, continues to steer West Africa\u2019s second-largest economy out of […]<\/p>\n","protected":false},"author":9,"featured_media":115663,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"pmpro_default_level":"","footnotes":""},"categories":[6928],"tags":[8182,14902],"class_list":["post-115662","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feature","tag-ghana","tag-imf","pmpro-has-access"],"yoast_head":"\nGhana\u2019s Reforms, Debt Restructuring Applauded By IMF<\/title>\n<meta name=\"description\" content=\"The International Monetary Fund (IMF) on Monday noted that Ghana is making tangible progress in its ongoing economic overhaul and debt\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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