An IMF mission is set to touch down in Accra this week for Ghana's first review under the Policy Coordination Instrument, and the 2027 Budget is expected to sit at the center of the discussions.
Sources close to the Fund, speaking on the sidelines of the Annual Meetings in Bangkok, say the team will be led by Dr Ruben Atoyan and is expected to stay roughly two weeks.
The visit will take stock of Ghana's economic performance and how far reforms meant to lock in macroeconomic stability have actually progressed.
The proposed 2027 Budget and how closely it tracks Ghana's PCI commitments will likely dominate the agenda. Beyond that, the mission is expected to dig into fiscal performance through September 2026, paying close attention to revenue collection and whatever measures government has rolled out to boost receipts.
Bank of Ghana's recapitalisation, banking supervision and wider financial-sector regulation are also on the list. So is the energy sector, where legacy debts continue to weigh on public finances and remain a persistent headache for fiscal planners.
Officials from government, the central bank and other stakeholders will meet the team before it issues a statement on what it finds.
Why This Review Matters
The visit follows the IMF Executive Board's completion of the sixth and final review of Ghana's Extended Credit Facility arrangement on July 27, 2026, alongside approval of the country's request for a 36-month PCI.
Unlike the ECF, the PCI carries no direct financing, but the review still gives Ghana a chance to show it's holding up its end of the bargain and build confidence among investors and development partners.
Finance Minister Dr Cassiel Ato Forson has described the framework as the anchor for Ghana's next phase of reforms, one meant to strengthen resilience and support broader growth while preserving what's already been achieved.
The PCI lets countries stay closely engaged with the IMF without drawing on its financing. It's built to support reform design and implementation while signalling policy credibility to partners and investors.
Despite providing no funding, countries under a PCI are held to standards comparable to those in lending arrangements, with reviews typically every six months.
And unlike a Staff-Monitored Programme, which runs informally between IMF staff and a member country, the PCI requires sign-off from the Fund's Executive Board.
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