President John Dramani Mahama has reaffirmed his administration’s commitment to maintaining fiscal discipline and responsible borrowing as Ghana approaches the final stages of its International Monetary Fund (IMF)-supported programme.
Speaking at the 9th Ghana CEO Summit held on Monday, May 26, 2025, under the theme “Transforming Business and Governance for a Sustainable Futuristic Economy,” Mahama outlined the government’s strategy for economic sustainability and financial prudence.
“We will continue the discipline in government expenditure and borrowing, and work to achieve all targets under the Extended Credit Facility programme with the IMF. We expect to conclude the fourth review of the IMF programme in June 2025, with a target to exit the programme by the end of 2026,” Mahama stated.
He further assured business leaders and investors that Ghana’s engagement with the IMF would evolve post-2026, emphasizing a shift away from loan-based assistance.
“Thereafter, Ghana will adopt the IMF’s Policy Support Instrument framework, signalling our return to responsible, non-borrowing engagement with the Fund,” he added.
The President was clear about future borrowing practices, making it known that loans will only be tied to profitable and self-financing projects undertaken by Metropolitan, Municipal and District Assemblies (MMDAs), Ministries, Departments, and Agencies (MDAs), and State-Owned Enterprises (SOEs).
“However future borrowing will be linked to self-financing formation in viable projects particularly by MBAs, MMPAs and SOEs ensuring value for money and sustainable repayment. The third is strengthening sovereign funds and local government financing,” he affirmed.
