Ghana has officially commenced the Sixth Review of its programme with the International Monetary Fund (IMF) under the Extended Credit Facility (ECF), with Finance Minister Dr Cassiel Ato Forson saying the country’s economic recovery must now translate into jobs and broader opportunities for citizens.
Speaking during the opening of discussions with the IMF mission team led by Dr Ruben Atoyan, Dr Forson described Ghana’s engagement with the Fund as a difficult but transformative process that has helped restore stability and confidence after the economic crisis that hit the country in 2022.
According to the Finance Minister, the reforms implemented under the programme have produced meaningful results, helping to stabilise the economy and rebuild credibility.
“Together, we have stabilised the economy. We have restored credibility. We have given renewed hope to the Ghanaian people,” he stated.
Dr Forson said the progress achieved under the IMF-backed programme reflected discipline and tough policy decisions taken in the national interest.
“On behalf of the President and the people of Ghana, I expressed our deep appreciation to the IMF team. This progress is significant. It is the product of discipline and difficult decisions taken in the national interest,” he added.
Despite the gains, the Minister warned against complacency, stressing that Ghana still faces serious challenges that could threaten the sustainability of the recovery if not addressed quickly.
He identified youth unemployment as the biggest concern, noting that the country’s long-term stability would depend on the ability of the private sector to absorb the growing number of young people entering the labour market.
“The most pressing of these is youth unemployment. I understand the weight of expectation on the government. If we do not create the conditions for the private sector to absorb our young people, the pressure on the state to provide jobs will become unsustainable,” he said.
Dr Forson indicated that the next phase of Ghana’s reform programme would place stronger emphasis on ensuring that economic stability delivers tangible benefits to citizens through investment, employment and business growth.
“We must ensure that stability translates into more investment, more jobs, and more opportunities for all. Because beyond the numbers, that is the true test of this recovery,” he stressed.
The Finance Minister also revealed that government would take further decisions in the coming weeks aimed at strengthening policy credibility, deepening reform discipline and improving investor confidence.
“This reform will target policy credibility, enforce reform discipline, and boost investor confidence,” he noted.
According to Dr Forson, the IMF team acknowledged the progress Ghana has made under the programme and viewed the current review as an important milestone in the country’s recovery efforts.
The Sixth Review comes at a crucial moment for Ghana as government attempts to consolidate macroeconomic stability while addressing rising public expectations over jobs, income levels and living conditions.
“This is where we are. With stability restored. With credibility regained. And with a renewed responsibility to convert these gains into lasting prosperity,” Dr Forson said.
“We will keep the momentum.”
