Ghana surpasses IMF reserve target set for May 2026

Ghana has surpassed a key benchmark under its ongoing International Monetary Fund (IMF) program by more than a year ahead of schedule signaling growing economic stability and strengthening investor confidence.

According to the latest review following a staff-level agreement between the Government of Ghana and the IMF, the country’s gross international reserves have already exceeded the target initially set for May 2026.

Data released by the Bank of Ghana also show that as of February 2025, Ghana’s reserves stood at $9.3 billion, equivalent to four months of import cover.

This represents a significant milestone under the three-year, $3 billion Extended Credit Facility arrangement, and places the country well ahead of its reserve accumulation goals.

Economic experts have described this development a strong signal of resilience, which is likely to strengthen investor trust and support currency stability in the near term.

Meanwhile, Ghana is expected to receive a $370 million disbursement from the IMF in June 2025 after the completion of the fourth review of the IMF program.

The funds are expected to reinforce the central bank’s efforts to maintain macroeconomic stability and safeguard foreign exchange reserves.

Additionally, government is expected to enhance coordination between fiscal and monetary authorities to help anchor inflation expectations and stabilise the cedi.

MA

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