IMF backs slower fiscal tightening for Ghana, debt anchor set for 2034

The International Monetary Fund said Ghana can meet its debt‑anchor target of 45% of GDP by 2034 while relaxing the primary‑surplus goal from 1.5% to 0.5% of GDP starting in 2027. The IMF’s Article IV Consultation and proposed Policy Coordination Instrument report argue that improved debt dynamics and ongoing structural reforms give the country room to increase development spending, especially in education, health, infrastructure, agriculture and energy.

The Fund stressed that the more flexible fiscal path depends on continued reforms in tax compliance, public‑financial‑management and oversight of state‑owned enterprises. Strengthening revenue mobilisation and limiting quasi‑fiscal pressures are intended to safeguard debt sustainability while allowing greater capital‑expenditure investment and job‑creation programmes.