The Governor of the Bank of Ghana (BoG), Dr. Johnson Pandit Asiama, has announced that Ghana is on track to successfully conclude its programme with the International Monetary Fund (IMF) in 2026, following significant improvements in key economic indicators.
Speaking at the 2025 IMF–World Bank Annual Meetings in Washington, D.C., Dr. Asiama stated that Ghana has “turned the corner,” with inflation falling sharply to about 9.4 percent and economic growth surpassing programme projections.
He credited the progress to prudent monetary management, fiscal consolidation, and the innovative Gold-for-Reserves initiative, which has strengthened the country’s foreign exchange stability.
“With continued discipline and policy consistency, Ghana will be well positioned to sustain growth and financial stability beyond the IMF programme,” Dr. Asiama said.
He recalled the economic challenges at the start of the programme, noting:
“When we came in, there was a lot of liquidity and high inflation. Some even questioned whether we should cancel the programme altogether. Eight months down the line, we have turned the corner—Ghana is back. Inflation, which was nearly 24 percent, is now down to 9.4 percent, and growth is rebounding strongly.”
Dr. Asiama explained that Ghana’s economic recovery was driven by coordinated reforms between the central bank and the Ministry of Finance, supported by IMF technical and policy guidance. He said that the mix of tight monetary policy, fiscal consolidation, and structural reforms had restored macroeconomic stability faster than anticipated.
He highlighted that the cedi had remained relatively stable throughout the year, while gross international reserves had improved to about 4.5 months of import cover, reflecting stronger foreign exchange management.
The Governor also emphasized the success of the Gold-for-Reserves initiative, which had generated about $8 billion in inflows and reduced external vulnerabilities. He noted that the central bank’s focus on responsible gold sourcing had enhanced transparency and curbed leakages in the gold export value chain.
Dr. Asiama concluded that the gains achieved demonstrated the resilience of Ghana’s economic framework and its capacity to thrive beyond the IMF support period.
Source:Africa Publicity
