IMF Engages Ghana on 2025 Budget, Economic Progress

An IMF team, led by Stéphane Roudet, visited Ghana from February 10-14 to engage with government officials on the nation's economic outlook and policies for the 2025 budget. The discussions focused on Ghana's progress under the IMF-supported program, with a formal review scheduled for April 2025. President John Dramani Mahama emphasized the need for tax reforms and better financial management during his address at the Munich Security Conference, highlighting issues with excessive taxation under the previous administration. He confirmed productive discussions with the IMF regarding technical assistance for these reforms, while also addressing the challenge of managing over GHS 15 billion in domestic exchange repayments this year. Mahama reiterated the government's commitment to the ongoing IMF program, which is set to end in May 2026, and the importance of prudent expenditure management. Overall, both the IMF and Ghanaian authorities expressed a commitment to continued collaboration for economic stability.