An International Monetary Fund (IMF) team has arrived in Accra, Ghana, starting February 8, 2025, for critical discussions with the government. The visit will focus on Ghana’s economy and the upcoming 2025 Budget, which is expected to be presented to Parliament in March 2025.
During their five-day stay, the team will assess the government’s progress on negotiations with External Commercial Creditors and address the ongoing energy sector debt. Additionally, the IMF will seek clarity on the government’s strategies to resolve Ghana’s energy challenges, including discussions on the potential privatization of parts of the Electricity Company of Ghana’s (ECG) operations.
The visit, according to Joy Business, is not a formal Review Mission but an engagement primarily focusing on economic performance and the 2025 Budget. A more formal review of Ghana’s programme will take place later in the year, based on fiscal data from December 2024. If successful, this review could unlock another tranche of funds for the Bank of Ghana around June 2025.
The IMF’s main objectives in Ghana’s programme include improving revenue mobilization and reducing the country’s debt to sustainable levels. The success of these initiatives is expected to be reflected in the 2025 budget as part of the ongoing partnership with the IMF.
