Business News of 2026-10-15
'We tell others to follow Ghana's steps' – IMF Director lauds economic reforms
The International Monetary Fund (IMF) has cited Ghana’s economic reform programme as an example for other countries to follow, with the Fund’s African Department Director, Zeine Zeidane, praising the country’s progress under the Extended Credit Facility (ECF).
“We tell others to follow your steps,” Zeidane told Finance Minister Dr Cassiel Ato Forson during a meeting on the sidelines of the ongoing IMF-World Bank Annual Meetings in Bangkok, Thailand.
He commended Ghana’s performance under the programme, describing it as a success and acknowledging the government’s efforts to strengthen economic management.
“I want to first commend you on how you are performing. The ECF was a great success,” he said.
Zeidane also expressed a positive assessment of Ghana’s current economic position, declaring that “Ghana is in a very good place.”
Beyond the ECF programme, the IMF official praised Ghana’s use of artificial intelligence (AI) in customs administration and the work undertaken to improve the management of state-owned enterprises (SOEs) and address stock-flow adjustments.
The measures are part of broader efforts to strengthen public financial management, improve revenue mobilisation and enhance economic governance.
The IMF’s commendation comes as Ghana continues to implement reforms aimed at consolidating its economic recovery after a period of fiscal and economic difficulties.
On October 13, 2026, the Fund raised its growth forecast for Ghana in 2026 to 5.7%, from its earlier projection of 4.6% in April. The revision represents an increase of 1.1 percentage points.
Reacting to the upgraded forecast, Dr Forson expressed confidence that the economy would perform better than the IMF’s latest projection.
“The IMF has upgraded Ghana’s 2026 growth forecast from 4.6% to 5.7%. We are confident we will exceed that projection,” he stated.
The Finance Minister also reaffirmed the government’s commitment to fiscal credibility, discipline and the implementation of reforms to sustain the country’s economic turnaround.
The IMF-World Bank Annual Meetings, taking place in Bangkok from October 12 to 18, 2026, bring together finance ministers, central bank governors and other policymakers to discuss global economic developments and strategies for economic growth.
Story by Mawuli Ahorlumegah, reporting from the 2026 IMF/World Bank Annual Meetings in Thailand, Bangkok
