ACCRA, April 15 (Xinhua) -- The International Monetary Fund (IMF) and the Ghanaian government announced on Tuesday that they have reached an agreement on the fourth review of Ghana's economic reforms, enabling 370 million U.S. dollars in loans to the African country.
Stephane Roudet, leader of the IMF staff team, expressed satisfaction with Ghana's performance in the external sector and economic growth under the 36-month Extended Credit Facility (ECF) program.
"The external sector has seen a considerable improvement, driven by solid exports, particularly gold and, to a lesser extent, oil and higher remittances. As a result, international reserves accumulation has far exceeded the ECF-supported program targets," Roudet noted.
"Growth in 2024 was also higher than expected, underpinned by strong mining and construction activity," he said, adding that Ghana remained committed to completing its comprehensive public debt restructuring to restore sustainability.
For his part, Governor of the Bank of Ghana Johnson Asiama pledged the bank's continued prudent monetary policy management to enable Ghana to achieve the targets under the IMF-backed reforms.
