Accra: Dr Cassiel Ato Forson, the Minister of Finance, announced that Ghana is set to transition from the International Monetary Fund (IMF)-supported Extended Credit Facility (ECF) Programme to a 36-month Policy Coordination Instrument (PCI) to consolidate macroeconomic gains and sustain reforms.
According to Ghana News Agency, Dr Forson presented the 2026 Mid-Year Budget Review in Parliament on Thursday, stating that the IMF Executive Board is expected to approve the PCI. This non-financing arrangement is designed for countries that no longer have, and are not expected to face, balance of payments needs.
The Finance Minister highlighted that the PCI would anchor the country's next phase of economic reforms, strengthen macroeconomic resilience, support broad-based growth, and demonstrate Ghana's commitment to sound and disciplined economic policies. The programme aims to preserve gains achieved under the current IMF-supported reforms, reinforcing investor confidence and policy credibility.
Dr Forson detailed that the PCI would focus on six key reform priorities aimed at sustaining economic stability and accelerating inclusive growth. These priorities include maintaining growth-friendly fiscal consolidation, preserving debt sustainability, strengthening fiscal transparency and governance, enhancing monetary and exchange rate policy frameworks, reinforcing financial sector stability, and promoting economic diversification and inclusive growth.
He emphasized that the new policy framework would support the government's efforts to build a resilient economy capable of withstanding external shocks while creating opportunities for sustainable development. Dr Forson reiterated the government's commitment to prudent economic management and structural reforms to ensure long-term macroeconomic stability and shared prosperity.