Publish ECG accounts audit without further delay – IMF to Government

The International Monetary Fund (IMF) has warned that the delay in releasing the audit of ECG's collection accounts is hindering Ghana's progress on reforms. IMF mission chief Ruben Atoyan emphasized that completing the remaining reforms on schedule, including the overdue publication of the ECG audit, is crucial. The IMF stated that financial pressures in the energy sector pose a significant risk to Ghana's economic stability, alongside other issues such as debt repayment needs, challenges in the cocoa and gold sectors, and weaknesses in the financial sector.

Despite this, the IMF affirmed that Ghana's broader structural reform program remains on schedule, citing progress in tariff adjustments, the approval of a new Cocoa Board Act, and the Fiscal Strategy Document's publication. The government has also advanced the review of customs and excise legislation ahead of schedule, although other initiatives like the Integrated Tax Administration System, Fiscal Council, and Fiscal Risk Statement are still underway.

The IMF's visit to Accra from October 22 to November 4 concluded with a staff-level agreement on the first review of the Policy Coordination Instrument, but this must still be approved by IMF management and the Executive Board. Ghana entered the 36-month PCI in July 2026, following the completion of its $3 billion Extended Credit Facility program.

While the IMF described Ghana's performance under the PCI as generally satisfactory, it highlighted the need for stronger governance and oversight of state-owned enterprises to boost public confidence and private investment.