Ghana economic recovery hits $100 bn, IMF exit debated

In late June 2026 the Bank of Ghana highlighted a shift from crisis to recovery, emphasizing domestic debt markets. By July 21 the government announced that the statutory public‑debt ceiling of 45 % of GDP had been met, inflation fell to 5.3 % and real GDP grew 6.4 % in H1, pushing the economy past the US$100 billion mark. Poverty fell to 21.9 % and a primary surplus turned into a 2.5 % surplus. The IMF Executive Board approved the final review of the Extended Credit Facility and a 36‑month Policy Coordination Instrument, setting a reform agenda on fiscal consolidation, debt sustainability, monetary policy, financial stability and inclusive growth.

On 23 July 2026 Finance Minister Dr Cassiel Ato Forson presented the mid‑year fiscal policy review, reaffirming the $100 bn milestone, noting that inflation had slipped to around 3 % and that a primary‑surplus target of 1.5 % of GDP had been achieved. The IMF Executive Board was expected the following week to approve the final review of the Extended Credit Facility and launch a 36‑month Policy Coordination Instrument. The government also revealed plans to list selected state‑owned enterprises—most notably the Agricultural Development Bank and the National Investment Bank—on the Ghana Stock Exchange to broaden ownership and attract private capital. Forson stressed that gold still provides roughly 68 % of export earnings, prompting a “New Economy” diversification agenda. The Flood Mitigation Task Force continued demolishing illegal structures on Accra waterways. Opposition members again questioned whether the surplus stemmed from spending cuts rather than genuine growth, former finance minister Amin Adam criticised the review for lacking concrete solutions, and local MPs pressed for road‑fund allocations.