Ghana’s 2015-17 IMF Program

Ghana’s medium-term development prospects have been put at risk after two decades of strong and broadly inclusive growth, due to large fiscal and external imbalances in recent years which have led to a slowdown of economic growth. To address these imbalances and safeguard the bright medium term prospects of the economy, the government embarked on its homegrown economic and financial program, but policy slippages, exogenous shocks, rising interest costs, and acute power shortages undermined the effort.

With no option left, the government approached the IMF for a medium term program to enable the country obtain some balance of payments support and policy credibility that the Fund’s program usually brings to the market and investors.

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