An International Monetary Fund (IMF) mission is set to arrive in Accra this week to conduct Ghana’s first review under the Policy Coordination Instrument (PCI), with discussions expected to focus heavily on preparations for the 2027 Budget and the country’s fiscal performance. The two-week mission, led by the IMF’s Mission Chief for Ghana, Dr. Ruben Atoyan, will evaluate the country’s economic performance and progress in implementing reforms aimed at maintaining macroeconomic stability.
Key discussions are expected to centre on the proposed 2027 Budget and its consistency with Ghana’s commitments under the PCI. The IMF team will also review fiscal outcomes through September 2026, paying particular attention to revenue mobilisation efforts and strategies to enhance domestic revenue generation. Additional areas of focus are likely to include the recapitalisation of the Bank of Ghana, as well as regulatory and supervisory measures within the banking and broader financial sectors.
The mission is also expected to examine ongoing challenges in the energy sector, especially legacy debts and their impact on public finances. During its visit, the IMF team will engage with government officials, central bank representatives and other key stakeholders before issuing a statement outlining its findings and recommendations.
Ghana’s first PCI review
The visit forms part of Ghana’s engagement with the International Monetary Fund (IMF) under the Policy Coordination Instrument (PCI), a non-financing arrangement aimed at supporting economic reforms and sustaining progress in macroeconomic stability. On July 27, 2026, the IMF Executive Board completed the sixth and final review of Ghana’s Extended Credit Facility (ECF) programme and considered the country’s request for a 36-month PCI arrangement.
While the ECF provides financial assistance, the PCI enables countries to demonstrate their commitment to economic reforms and strengthen policy credibility among investors and development partners without accessing direct financing under the instrument.
Finance Minister Dr Cassiel Ato Forson has described the framework as a means of guiding Ghana’s next phase of economic reforms, safeguarding the gains achieved under the IMF-supported programme and enhancing the economy’s resilience to external shocks. He has further emphasised that the arrangement is expected to boost investor confidence and promote inclusive, broad-based economic growth.
