Ghana’s fiscal performance, revenue mobilisation and preparations for the 2027 Budget are expected to feature prominently as an International Monetary Fund (IMF) mission begins formal engagements with the government.
According to sources familiar with the visit, JoyBusiness understands that discussions will assess the country’s economic performance during the first nine months of the year and the policies required to sustain recent gains.
The engagements are also expected to examine Ghana’s debt position, expenditure management for the remainder of the year and spending priorities for 2027, as the government prepares to place greater emphasis on infrastructure investment in the upcoming budget.
On the monetary front, the mission is expected to review Ghana’s inflation-targeting framework, monetary policy and foreign exchange arrangements.
Sources also indicate that discussions could cover the Bank of Ghana’s financial position, international reserves and measures to safeguard the central bank’s independence.
Initial engagements are expected to involve officials from the Ministry of Finance and the Bank of Ghana, with other key economic stakeholders likely to participate during the two-week visit.
Ghana’s PCI Programme and IMF Mission
The mission, led by Dr. Ruben Atoyan, forms part of Ghana’s engagement with the IMF under the Policy Coordination Instrument (PCI), a non-financing framework designed to consolidate economic gains and sustain policy reforms.
The IMF Executive Board completed the sixth and final review of Ghana’s Extended Credit Facility (ECF) arrangement on July 27, 2026, while considering the country’s request for a 36-month PCI.
Although the PCI does not provide direct IMF funding, the review process offers the government an opportunity to demonstrate progress on its policy commitments and strengthen confidence among investors and development partners.
Finance Minister Dr. Cassiel Ato Forson has previously described the framework as an anchor for Ghana’s next phase of economic reforms, aimed at strengthening resilience and supporting broad-based growth.
He said the programme would help preserve gains made under IMF-supported reforms while reinforcing policy credibility and investor confidence.
What the PCI Means for Ghana
The PCI enables countries to maintain close policy engagement with the IMF without receiving direct financing under the instrument.
It supports the development and implementation of economic reforms while signalling policy credibility to development partners and private investors.
Its objectives include strengthening macroeconomic stability, addressing underlying economic imbalances and building resilience against economic shocks.
Despite providing no direct funding, the PCI requires participating countries to implement policies that meet standards comparable to those under IMF lending arrangements. The IMF assesses progress through scheduled reviews, typically conducted every six months.
Unlike a Staff-Monitored Programme, which is an informal arrangement between IMF staff and a member country, the PCI requires approval by the IMF Executive Board.
source – www.myjoyonline.com