IMF flags delayed ECG collection accounts audit, urges timely reforms

The International Monetary Fund (IMF) has raised concerns over Ghana's delayed publication of an audit of the Electricity Company of Ghana's (ECG) collection accounts, urging the government to complete outstanding reforms on time. This issue was brought up during an IMF mission's review of Ghana's Policy Coordination Instrument (PCI), which concluded discussions on October 22 to November 4.

Mission chief Ruben Atoyan stated that completing the remaining reforms, including the delayed audit, would be crucial for Ghana's economic stability. The IMF identified fiscal pressures from the energy sector as one of the risks to the country's economic health, alongside significant debt rollover needs, pressure from the cocoa and gold sectors, and weaknesses in the financial sector.

Despite the delay in the audit, the IMF noted that structural reforms remained on track, citing continued tariff adjustments, parliamentary approval of a new Cocoa Board Act, and the publication of the Fiscal Strategy Document. The IMF's visit to Ghana was part of a broader engagement aimed at supporting the country's reform efforts, which entered a non-financing PCI phase after completing its $3 billion Extended Credit Facility programme in July 2026.

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