The International Monetary Fund (IMF) has struck an unusually optimistic tone on Ghana’s economic performance, with its Resident Representative describing 2025 as a strong year underpinned by fiscal discipline and decisive policy actions.
Speaking on Joy News’ PM Express Business Edition on Thursday, IMF Resident Representative in Ghana, Dr Adrian Alter, noted that the Fund’s generally cautious approach to economic assessments made the positive outlook particularly noteworthy.
“The IMF is typically conservative in its assessments and projections. We usually want to be surprised when it comes to growth,” he said. “But overall, I would say 2025 has been a very good year.”
Dr Alter attributed the favourable assessment primarily to the government’s commitment to fiscal discipline, which he said helped restore order to Ghana’s public finances after years of pressure.
“That fiscal discipline helped to put the public finances in order,” he stated.
He also credited coordinated macroeconomic policies for the improved outlook, highlighting the Bank of Ghana’s role in stabilising the currency.
“The tight monetary policy stance and the accumulation of reserves by the Bank of Ghana also supported cedi stability,” he explained.
Beyond short-term economic stabilisation, Dr Alter pointed to structural reforms that he said would strengthen Ghana’s fiscal credibility over the long term.
“In terms of reforms, there were many implemented in 2025,” he said. “But one key reform was the strengthening of the Fiscal Responsibility framework through amendments to the Fiscal Responsibility Act.”
According to him, these changes have reinforced Ghana’s fiscal rules and laid the foundation for stronger oversight mechanisms.
“That effectively strengthens fiscal rules and supports plans to establish an independent Fiscal Council,” Dr Alter added.
