Accra: The Government of Ghana has officially concluded its engagement under the International Monetary Fund's Extended Credit Facility and transitioned to the Non-Financing Policy Coordination Instrument (PCI). In a statement issued by Presidential Spokesperson and Minister for Government Communications, Felix Kwakye Ofosu, the announcement was described as the definitive end of Ghana's financial bailout relationship with the Bretton Woods institution.
According to Ghana Web, the government noted that the local economy has rebounded, with inflation easing, the cedi strengthening, and public debt declining. The statement highlighted the improvement in Ghana's sovereign credit ratings, which have risen significantly from restricted default to a "B" rating with a positive outlook, marking five distinct rating level upgrades.
Ghana's gross international reserves have reached approximately US$14.5 billion as of February 2026, equivalent to nearly six months of import cover. These buffers are seen as providing resilience against external shocks and reinforcing the country's ability to sustain economic independence.
The PCI, a non-financing technical assistance instrument, is designed to support countries in implementing reforms, signaling policy credibility, and unlocking financing from private investors and development partners. The statement emphasized that the PCI does not provide a financial bailout but will offer continuous capacity development and a confidence boost to the market, catalyzing fresh financing for Ghana.
This Non-bailout Technical Assistance Policy Coordination Instrument (PCI) will complement the government's efforts to achieve an Investment Grade rating.