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Ghana passes fifth review of IMF programme
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Ghana has reached a significant milestone in its economic recovery efforts with the successful conclusion of a Staff-Level Agreement (SLA) with the International Monetary Fund (IMF) following the Fifth Review Mission under the US$3 billion Extended Credit Facility (ECF) programme.
Finance Minister Dr. Cassiel Ato Forson confirmed that the Government has achieved all six Quantitative Performance Criteria and four Indicative Targets for the review period. He described the agreement as a powerful validation of the disciplined and comprehensive strategy pursued over the past nine months.
The Minister noted that Ghana is beginning to see strong outcomes from President Mahama’s Reset Agenda.
Economic growth has accelerated, with non-oil sectors, where most jobs are created, showing impressive expansion.
Inflation has fallen sharply, returning to single-digit levels, while interest rates have declined significantly.
The Ghana cedi has demonstrated notable strength and stability, and fiscal consolidation efforts are yielding results, reflected in a budget surplus and a substantial reduction in public debt.
He also announced significant progress in bilateral debt restructuring efforts, with the government committed to finalising all outstanding agreements before the end of the ECF programme.
The IMF Executive Board is expected to consider Ghana’s Fifth Review by the end of December 2025. Once approved, it will unlock a disbursement of US$385 million, bringing total disbursements under the programme to US$2.6 billion.
Finally, on behalf of the President, Dr. Forson extended gratitude to the people of Ghana for their patience and resilience and thanked the IMF mission team for their constructive engagement and tireless work.
The Office of the Special Prosecutor (OSP) has taken note of public allegations of extortion and related conduct made against the Minority Leader of Parliament, Alexander Afenyo-Markin.
The allegations were made by the Chief Executive of the Ghana Gold Board (GoldBod), Sammy Gyamfi.
In a brief statement, the OSP said it has also received a joint petition submitted by two persons, as well as two separate petitions from other persons, in relation to the same allegations.
“Given the nature of the allegations, the OSP will assess the case and determine whether it falls within its statutory mandate and whether further investigative action is warranted,” the statement said.
The development comes amid a heated public feud between the Minority in Parliament and the leadership of GoldBod over the operations of the Domestic Gold Purchase Programme.
The Minority, led by Afenyo-Markin, has accused GoldBod and the Bank of Ghana of causing a loss of over $1.7 billion, citing the International Monetary Fund’s August 2026 report. The Minority has vowed to pursue the matter as Parliament has reconvened for an emergency sitting.
GoldBod, on the other hand, has rejected claims by some NPP MPs, including Tano South MP Dr Gideon Boako, that it owes the Bank of Ghana GH¢1 billion in overdrafts, describing the claim as “false and malicious.”
In the latest twist, GoldBod CEO Sammy Gyamfi has accused the Minority Leader of extortion and related conduct, an allegation that has triggered petitions to the OSP.
The OSP is mandated under Act 959 to investigate and prosecute specific cases of alleged or suspected corruption and corruption-related offences involving public officers and politically exposed persons.
By Edem Mensah-Tsotorme
General Secretary of the New Patriotic Party (NPP), Justin Kodua Frimpong, has filed his nomination to contest the position of General Secretary again as the party begins its rebuilding efforts ahead of the 2028 general elections.
He was accompanied by party stalwarts and supporters who were in high spirits, expressing confidence that he is the right person to hold the position.
Speaking after filing his nomination, Mr Kodua Frimpong assured the rank and file of the party that he would not disappoint them.
“I can assure you that the faith the rank and file of the party have had in me, I will never disappoint them,” he said.
He also pledged to run a clean campaign devoid of personal attacks.
“I can assure you that our internal campaign will be devoid of personal attacks,” he told his fellow contestants and the rank and file of the party as he seeks to retain his position.
His tenure has seen the party through the 2024 general elections, where the NPP lost power to the National Democratic Congress (NDC) after eight years in government.
The party is currently in a rebuilding phase, with internal elections scheduled to elect new national executives to lead its reorganization towards the 2028 polls.
The General Secretary position is considered one of the most influential in the party’s administrative structure, responsible for the day-to-day running of the party secretariat and implementation of party decisions.
By Edem Mensah-Tsotorme
