Also known as: ECF · $3 billion Extended Credit Facility
News reports
Order a long-term news report on Extended Credit Facility
Every mention in the Ghanaian press over the period you choose, compiled as a PDF or Word document.
Verbatim sentences from the source article.
Joy Online
… The IMF Executive Board completed the sixth and final review of Ghana’s Extended Credit Facility arrangement on July 27, 2026, and considered the country’s request for a 36-month PCI. …
Revenue, inflation and 2027 Budget in focus as IMF opens Ghana PCI reviewJoy Online
… Speaking at a joint press conference with a visiting IMF mission during the latest review of the Extended Credit Facility programme, he said any decision to return would be communicated to Ghanaians. …
Investors push for Ghana’s return to global capital markets; government says no rushJoy Online
… The IMF Executive Board completed the sixth and final review of Ghana’s Extended Credit Facility arrangement on July 27, 2026, and considered the country’s request for a 36-month PCI. …
IMF team expected in Ghana this week; 2027 Budget, energy debts in focusJoy Online
… He commended the country’s progress under the Extended Credit Facility (ECF) programme and reforms aimed at strengthening economic management. …
‘Follow Ghana’s steps’ – IMF Africa Director hails economic gainsJoy Online
… Following the September IMF staff-level engagement in Ghana and the country’s exit from the US$3 billion Extended Credit Facility (ECF) programme, the Bangkok meetings are expected to advance discussions on benchmarks and reforms under the new Policy Coordination Instrument (PCI) …
Ghana seeks investment deals in Bangkok amid global economic crisesJoy Online
… The meetings come after Ghana completed the final review of its Extended Credit Facility arrangement in July 2026 and moved towards a 36-month Policy Coordination Instrument (PCI), a non-financing IMF programme. …
Ato Forson leads Ghana’s push for investment at IMF–World Bank meetingsThe Ghanaian Times
… y multilateral debt relief in 2006Ghana received about US$3.5 billion in nominal HIPC debt relief and external debt fell dramatically52014 to 2019Large deficits, rising interest expenditure, cedi depreciation and expensive domestic borrowingThree-year IMF Extended Credit Facility …
Ghana’s long road through debt: From post-independence crises to DDEPThe Chronicle
… Ghana’s US3 billion, 39-month Extended Credit Facility (ECF) programme has reached its final review, with the IMF approving the final US371 million disbursement bringing total financing under the program to US$3 billion. …
IMF programme ends, Policy Partnership begins: Ghana’s next economic chapterJoy Online
… Fact-checkers must get to work.” Mr Gyamfi said the first relevant document was the IMF’s recent review under Ghana’s Extended Credit Facility (ECF) programme. …
GoldBod did not cause BoG’s $1.7bn loss – Sammy Gyamfi challenges IMF claimsJoy Online
… fiscal risks in the energy sector. The sector shortfall declined to US$1.4 billion in 2025 from US$1.6 billion in 2024, but remained a significant pressure on public finances. The IMF said in its 2026 Article IV Consultation and Sixth Review under the Extended Credit Facility …
IMF urges Ghana to sustain quarterly electricity tariff adjustmentsAn IMF mission led by Dr Ruben Atoyan has opened formal discussions with the Ghanaian government to examine fiscal performance, revenue mobilisation, debt position and monetary policy over the first nine months of the year, while also reviewing preparations for the 2027 Budget and infrastructure investment plans.
22 October 2026 · Joy Online →
An IMF mission led by Dr Ruben Atoyan has opened formal discussions with the Ghanaian government to examine fiscal performance, revenue mobilisation, debt position and monetary policy over the first nine months of the year, while also reviewing preparations for the 2027 Budget and infrastructure investment plans.
22 October 2026 · Joy Online →
Offshore investors and fund managers are pressing Ghana to return to international capital markets, citing improving economic conditions, credit rating upgrades, and stronger reserves. The government has indicated there is no rush to return to these markets.
20 October 2026 · Joy Online →
An International Monetary Fund mission led by Dr Ruben Atoyan is expected in Accra this week for Ghana's first review under the Policy Coordination Instrument, focusing on the 2027 Budget, fiscal performance through September 2026, banking-sector supervision, and energy-sector legacy debts.
19 October 2026 · Joy Online →
The IMF's African Department director praised Ghana's economic performance under its Extended Credit Facility programme, calling it "very impressive" and telling others to follow the country's steps. The IMF raised its 2026 growth forecast for Ghana to 5.7 per cent from 4.6 per cent.
15 October 2026 · Joy Online →
Ghana's Finance Minister and Bank of Ghana Governor are engaging international investors and development partners at the IMF and World Bank's annual meetings in Bangkok to secure financing for the country's New Economy agenda, which aims to translate economic stabilisation into sustained transformation through value addition, industrialisation and job creation.
13 October 2026 · Joy Online →
Finance Minister Dr Cassiel Ato Forson is heading Ghana's delegation to the 2026 IMF and World Bank Annual Meetings in Bangkok (October 12–18), where the government will push for investment and discuss fiscal stability and economic reforms. The meetings follow Ghana's completion of its Extended Credit Facility review and move toward a 36-month Policy Coordination Instrument.
12 October 2026 · Joy Online →
Ghana paid GH¢10.82 billion to Domestic Debt Exchange Programme bondholders on 19 August 2026 entirely in cash, bringing total DDEP payments since 2025 to GH¢41.36 billion. The article traces Ghana's debt crises from independence through the 2022 DDEP, during which the government had to restructure obligations held by domestic banks, pension funds, insurers, institutions and citizens.
1 September 2026 · The Ghanaian Times →
Ghana's US$3 billion Extended Credit Facility with the IMF has concluded with final approval of a US$371 million disbursement. The country has requested a new 36-month Policy Coordination Instrument, which provides policy guidance rather than financial disbursements, as Ghana's economic metrics—including 5.3% headline inflation, 6.4% year-on-year GDP growth, and US$11.9 billion in reserves—have improved substantially.
27 August 2026 · The Chronicle →
The Ghana Gold Board CEO rejected claims that the IMF attributed $1.7 billion losses to GoldBod, stating the IMF identified the Domestic Gold Purchase Programme as the source and that GoldBod was established later to take over the programme's activities. He said Ghana recorded about $400 million in losses from gold sales under the DGPP in 2024, rising to more than $1.7 billion in 2025 following programme expansion, with the IMF linking the losses to scaling-up, service fees, discounts, and foreign-exchange effects.
19 August 2026 · Joy Online →
The International Monetary Fund has urged Ghana to sustain quarterly electricity tariff adjustments to reduce fiscal risks in the energy sector, noting that the sector shortfall declined to US$1.4 billion in 2025 from US$1.6 billion in 2024 but remains a significant pressure on public finances.
11 August 2026 · Joy Online →
The IMF recommended the Bank of Ghana reassess its Domestic Gold Purchase Programme due to concerns about its impact on the central bank's balance sheet, citing a quasi-fiscal loss of about US$214 million from trading activities, fees and exchange-rate movements. An accompanying analysis argues the programme should be evaluated for economic benefits—such as strengthening foreign exchange buffers and macroeconomic stability—rather than accounting costs alone.
6 August 2026 · Joy Online →
The IMF has cautioned Ghana that its recent macroeconomic recovery, driven largely by exceptionally high international gold prices, carries significant downside risk to long-term economic resilience. The warning was made in the IMF's 2026 Article IV Consultation report, released after the Executive Board approved Ghana's transition to a 36-month Policy Coordination Instrument.
6 August 2026 · The Chronicle →
The IMF has cautioned Ghana that its recent fuel subsidy measures, including a GH¢2 subsidy per litre of diesel for August costing about GH¢500 million, must remain temporary and carefully targeted to avoid undermining fiscal gains and weakening government revenue.
5 August 2026 · Joy Online →
The Minority in Parliament has called on the Mahama administration to fully brief Parliament on Ghana's new IMF engagement, arguing that the absence of fresh financing under the Policy Coordination Instrument does not absolve government of its responsibility to ensure transparency and parliamentary scrutiny of the arrangement.
5 August 2026 · The Chronicle →
The IMF approved Ghana's final US$371 million disbursement under its Extended Credit Facility after acknowledging corrective measures by the Bank of Ghana to end temporary government financing that had breached lending limits. The BoG reaffirmed its commitment to zero monetary financing of government budgets to safeguard price stability and protect the cedi.
30 July 2026 · Joy Online →
The IMF has approved the final review of Ghana's three-year Extended Credit Facility programme, unlocking a final disbursement of $371 million and bringing total receipts to $3 billion. Ghana will now transition to a 36-month Policy Coordination Instrument with the IMF to support ongoing economic reforms without providing new financing.
28 July 2026 · The Ghanaian Times →
The IMF Executive Board has approved the final review of Ghana's three-year US$3 billion Extended Credit Facility programme, unlocking a final disbursement of approximately US$371 million and bringing total disbursements to the full US$3 billion. The Ministry of Finance described the completion as a major milestone in Ghana's economic recovery, reflecting progress in restoring macroeconomic stability through fiscal discipline and structural reforms.
28 July 2026 · The Chronicle →
Ghana has completed its three-year Extended Credit Facility with the IMF, with the Board approving a final disbursement of US$371 million. The Finance Ministry said the completion reflects progress in fiscal discipline, reduced inflation, and strengthened external buffers, and Ghana will now move into a 36-month Non-Bailout Policy Coordinating Instrument with the IMF.
28 July 2026 · Joy Online →
Ghana's three-year Extended Credit Facility programme with the IMF has been completed after the Fund's Executive Board approved the country's final review. The approval is expected to trigger the disbursement of more than US$300 million to Ghana and a new Policy Coordination Instrument, marking the end of the arrangement begun in 2023.
27 July 2026 · Joy Online →
The IMF Executive Board is expected to approve Ghana's sixth and final Extended Credit Facility review, unlocking a final disbursement of about US$318 million, and to greenlight a 36-month Policy Coordination Instrument to guide economic reforms after the bailout programme concludes. The PCI, a non-financing arrangement, will offer closer policy engagement with the IMF and signal Ghana's commitment to reforms.
27 July 2026 · Joy Online →
Eight months into Ghana's 2026 Budget reset, the cedi has remained broadly stable and the domestic bond market has reopened after a three-year absence, though observers note that sustaining discipline beyond the IMF programme and translating headline gains into better jobs and living standards remain key tests.
24 July 2026 · Daily Guide →
Ghana is moving from the IMF's Extended Credit Facility Programme to a 36-month Policy Coordination Instrument designed for countries without balance of payments needs, intended to consolidate macroeconomic gains and anchor the next phase of economic reforms through six key priorities including fiscal consolidation, debt sustainability, and financial sector stability.
24 July 2026 · Joy Online →
Finance Minister Ato Forson announced that Ghana's Extended Credit Facility programme is expected to conclude following final approval by the IMF Executive Board next week, after which Ghana will transition to a Policy Coordination Instrument, a non-financing arrangement for countries without balance-of-payment challenges.
23 July 2026 · Joy Online →
Ghana is expected to formally conclude its three-year IMF Extended Credit Facility programme next week when the IMF Executive Board approves the country's final programme review, marking successful completion after Ghana met agreed policy and reform commitments.
23 July 2026 · Joy Online →
Finance Minister Dr Cassiel Ato Forson presented the 2026 Mid-Year Budget Review to Parliament on Thursday, July 23, outlining fiscal performance in the first half of 2026 and economic policy for the remainder of the year. The review highlighted stronger-than-expected economic performance, including inflation declining to 5.3 per cent, and is expected to maintain current tax policy while updating Parliament on Ghana's transition from the IMF's Extended Credit Facility programme to the Policy Coordination Instrument.
23 July 2026 · Joy Online →
The opposition New Patriotic Party has questioned the sustainability of the government's fiscal performance ahead of the 2026 Mid-Year Budget Review, arguing that the reported improvement in macroeconomic indicators was achieved largely through spending cuts rather than structural economic reforms. The NPP noted that although the government is expected to report a 2025 primary surplus of 2.6 per cent of GDP, government revenue missed its revised target by 4.7 per cent while expenditure was compressed by 13.8 per cent.
23 July 2026 · The Chronicle →
Finance Minister Dr Cassiel Ato Forson presented the 2026 Mid-Year Budget Review to Parliament on Thursday, July 23, assessing fiscal performance in the first half of the year. Key economic indicators showed stronger-than-expected performance with inflation declining to 5.3 per cent and improvements in fiscal consolidation, the external sector and debt sustainability since the budget was presented in November 2025.
23 July 2026 · Joy Online →
The Majority in Parliament has rejected the NPP's claims that Ghana's fiscal gains came mainly from expenditure cuts, arguing instead that improving economic indicators are backed by the IMF and reflect prudent fiscal management. Sagnarigu MP Atta Issah maintained that expenditure adjustments were necessary to protect deficit and primary balance targets after revenue fell short, while critical sectors were protected.
22 July 2026 · Joy Online →
Kojo Oppong Nkrumah, Ranking Member on Parliament's Economy and Development Committee, has questioned the government's fiscal strategy, noting that barely nine weeks after Ghana exited the IMF Extended Credit Facility programme, Parliament is being asked to approve almost $1 billion in fresh loans. He argues this raises concerns about domestic revenue mobilisation and the country's long-term debt sustainability.
22 July 2026 · Joy Online →
Finance Minister Dr Cassiel Ato Forson will present the government's New Economic Policy during the 2026 Mid-Year Budget Review to Parliament on July 23, marking a transition from economic stabilisation to long-term growth and consolidating recent macroeconomic gains. The review will also cover Ghana's concluded IMF Extended Credit Facility programme, transition to a new Policy Coordination Instrument, and progress on external debt restructuring.
20 July 2026 · Joy Online →