Ghana: 2023 Article IV Consultation, First Review Under the Extended Credit Facility Arrangement Under the Extended Credit Facility, Request for Modification of Performance Criteria, and Financing Assurances Review
IMF Staff Country Reports, January 25, 2024
Source details
- Canonical URL
- Ghana: 2023 Article IV Consultation, First Review Under the Extended Credit Facility Arrangement Under the Extended Credit Facility, Request for Modification of Performance Criteria, and Financing Assurances Review
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Bibliographic details
- Published: January 25, 2024
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400266768.002
Program performance and implementation
- All quantitative performance criteria for the first review were met.
- Almost all indicative targets and structural benchmarks were met.
- The authorities’ reforms are bearing fruit, with signs of economic stabilization emerging.
Macroeconomic outcomes and outlook
- Growth in 2023 has proven resilient.
- Inflation has declined.
- The fiscal position has improved.
- The external position has improved.
- Sound policies and reforms should foster a recovery and further reduce inflation over the medium term.
Debt restructuring and liabilities
- Progress is being made on debt restructuring.
- The domestic debt exchange was completed over the summer.
- An agreement was recently reached on the restructuring of official bilateral debt.
Risks and downside scenarios
- Downside risks include:
- Slippages in program execution.
- Delays in restructuring debt.
- Deterioration in the external environment.
Publication metadata and scope
- Publication date: January 25, 2024
- Pages: 155
- Series: Country Report No. 2024/030
- DOI: https://doi.org/10.5089/9798400266768.002
International Monetary Fund. "Ghana: 2023 Article IV Consultation, First Review Under the Extended Credit Facility Arrangement Under the Extended Credit Facility, Request for Modification of Performance Criteria, and Financing Assurances Review", IMF Staff Country Reports, January 25, 2024.
Content in this bundle
- 1ghaea2024001