An International Monetary Fund (IMF) mission is expected in Accra this week for Ghana’s first review under the Policy Coordination Instrument (PCI), with preparations for the 2027 Budget and the country’s fiscal performance expected to dominate discussions.
The two-week mission, according to sources close to the IMF, will be led by Dr Ruben Atoyan.
The engagement is expected to assess Ghana’s economic performance and progress on reforms aimed at sustaining macroeconomic stability.
Also read: GH¢49.72 evacuation row: Ablakwa produces names of 1,964 evacuees, payment records and more
Discussions are expected to centre on the proposed 2027 Budget and its alignment with Ghana’s commitments under the PCI.
The IMF team is also expected to examine fiscal performance up to September 2026, including revenue mobilisation and measures to improve government receipts.
Other anticipated areas of discussion include the recapitalisation of the Bank of Ghana, banking-sector supervision and regulation of the wider financial sector.
The energy sector is also expected to feature prominently, particularly legacy debts and their implications for public finances.
The mission is expected to engage government officials, the central bank and other stakeholders before stating its findings.
The visit forms part of Ghana’s engagement with the IMF under the PCI, a non-financing framework designed to support economic reforms and sustain policy credibility.
On July 27, 2026, the IMF Executive Board completed the sixth and final review of Ghana’s Extended Credit Facility (ECF) arrangement and considered the country’s request for a 36-month PCI.
Unlike the ECF programme, the PCI does not provide direct financial assistance. Instead, it allows countries to demonstrate their commitment to sound economic policies and reforms through structured engagement with the Fund.
The review is therefore important for assessing Ghana’s progress on its policy commitments and reinforcing confidence among investors and development partners.
Finance Minister Dr Cassiel Ato Forson has previously explained that the framework is intended to anchor Ghana’s next phase of reforms, strengthen economic resilience and support broad-based growth.
He has also emphasised the importance of preserving gains made under previous IMF-supported reforms while reinforcing policy credibility and investor confidence.
The Policy Coordination Instrument allows countries to maintain close engagement with the IMF without receiving direct financing under the arrangement.
It supports economic reform implementation, addresses underlying imbalances and strengthens resilience against external shocks.
Participating countries are expected to meet policy standards comparable to those associated with IMF lending arrangements, with progress assessed through scheduled reviews, normally every six months.
The PCI requires approval by the IMF Executive Board, unlike a Staff-Monitored Programme, which is an informal arrangement between IMF staff and a member country.
The upcoming review will provide an opportunity for Ghana to demonstrate progress on fiscal reforms as the government prepares its 2027 Budget.