The International Monetary Fund’s Director of African Department, Zeine Zeidane, has commended Ghana’s economic recovery, describing the country’s performance under its reform programme as an example for other economies facing similar challenges.
Mr Zeidane made the remarks during a meeting with Finance Minister Dr Cassiel Ato Forson on the sidelines of the IMF–World Bank Annual Meetings in Bangkok, Thailand, where he praised the government’s progress under the Extended Credit Facility (ECF) programme.
“I want to first commend you on how you are performing. The ECF was a great success,” he said, adding that “Ghana is in a very good place”.
According to him, Ghana’s progress has become a reference point in the IMF’s engagements with other member countries undertaking difficult economic adjustments. “We tell others to follow your steps,” he stated.
The endorsement comes after Ghana faced a severe economic crisis marked by limited access to international capital markets, public debt defaults, high inflation, rapid currency depreciation and declining investor confidence.
The IMF official’s assessment suggests that the country has made significant progress in restoring macroeconomic stability through fiscal reforms, improved public financial management and efforts to strengthen economic governance.
The Fund has also revised its forecast for Ghana’s economic growth in 2026 upwards from 4.6 per cent in April to 5.7 per cent, an increase of 1.1 percentage points.
The upward revision indicates that the economy is performing better than previously anticipated, despite the fiscal consolidation measures and structural reforms being implemented by the government.
Dr Forson expressed confidence that Ghana would record growth above the IMF’s latest projection, reaffirming the government’s commitment to fiscal discipline and maintaining the credibility of its economic policies.
However, sustaining the recovery will require growth to translate into tangible improvements in the lives of Ghanaians. Higher economic output must support job creation, stronger household incomes, increased private investment and sustainable government revenue to make the gains meaningful.
Mr Zeidane also praised Ghana’s application of artificial intelligence in customs administration, an initiative aimed at improving revenue mobilisation and strengthening compliance.
The use of AI in customs operations can help identify suspicious trade declarations, detect possible undervaluation of imports, analyse trading patterns and guide officials towards consignments that present higher revenue or compliance risks.
The approach could help the government improve tax collection and reduce revenue leakages without relying exclusively on increases in tax rates.
While the IMF’s commendation provides a positive assessment of Ghana’s economic direction, the long-term success of the recovery will depend on the government’s ability to sustain fiscal discipline, strengthen public institutions and ensure that economic growth delivers lasting benefits to businesses and households.
