Ghana has achieved a significant milestone under its ongoing programme with the International Monetary Fund (IMF), reaching its international reserves target well ahead of schedule.
The latest update, following a staff-level agreement between Ghana and the IMF, reveals that the country’s gross international reserves reached $9.3 billion in February 2025, covering four months of imports. This surpasses the IMF’s reserve target initially set for May 2026.
This development marks a positive turning point for Ghana’s economic recovery efforts. Analysts believe it will enhance investor confidence and provide greater stability for the Ghanaian Cedi in the near term.
If global economic conditions remain favourable, experts say Ghana is on track to complete the IMF programme with a stronger reserve position and improved macroeconomic fundamentals.
Additionally, a $370 million disbursement expected from the IMF in June 2025 is likely to strengthen the central bank’s push for sustained economic stability.
Market observers are urging the Bank of Ghana to maintain its tight monetary stance and improve oversight of the foreign exchange market to counter speculation. They also recommend better coordination between fiscal and monetary policies to keep inflation in check and reinforce currency stability.
