Accra: The government of Ghana has cancelled approximately 1,800 public investment projects as part of a strategic review of the country's project portfolio aimed at enhancing spending efficiency and reinforcing fiscal discipline. According to Ghana Web, this initiative is a segment of broader public financial management reforms under Ghana's economic programme. The goal is to ensure that limited public resources are allocated to projects that offer substantial economic and social benefits.
In the IMF's latest Article IV Consultation and proposed Policy Coordination Instrument (PCI) report scheduled for August 2026, it was revealed that the review identified numerous projects as unfeasible, non-performing, or misaligned with current government priorities. Additionally, the IMF reported that around 2,000 other projects have been rephased or redesigned to align with available funding and the government's capacity to execute them.
The IMF emphasized that the rationalization of these projects is intended to enhance the quality of public investments by directing funds towards initiatives with stronger economic and social returns. This reevaluation is part of Ghana's efforts to strengthen its public investment management system and improve expenditure controls, as the country aims to restore fiscal stability following a debt restructuring programme.
Moreover, the IMF highlighted that the Ghanaian government is implementing measures to improve procurement systems, bolster commitment controls, and enhance the monitoring of public spending to mitigate the risk of arrears. These reforms are anticipated to create fiscal space for priority infrastructure projects while supporting long-term debt sustainability under the proposed PCI programme.