The International Monetary Fund (IMF) says Ghana is better positioned to withstand potential global commodity-price shocks, offering an optimistic assessment of the economy as the Fund and the World Bank conclude their 2026 Annual Meetings in Bangkok, Thailand.
Director of the IMF’s African Department, Zeine Zeidane, says Ghana’s strong economic performance and recent credit-rating upgrade signal progress in its economic recovery, as the country moves beyond its completed Extended Credit Facility (ECF) programme into a new phase of reforms under the Policy Coordination Instrument (PCI).
Speaking at a Sub-Saharan African press briefing during the meetings, Zeidane said Ghana’s performance under the new instrument had been strong so far, expressing confidence in the country’s economic direction.
“The performance has been strong up to now. And also, you certainly have seen that recently, there was an upgrade of Ghana. So, things are moving in Ghana in the right direction,” he said.
While acknowledging the risks associated with fluctuations in global commodity prices, Zeidane said Ghana was entering a period of potential external shocks from a stronger economic position.
“Of course, the risk in terms of commodity prices, every country can face them, but I think Ghana is, if that happens, we will face them from a very strong position,” he added.
The remarks reinforce the IMF’s improved outlook for Ghana. In its October 2026 World Economic Outlook, the Fund raised the country’s growth forecast for 2026 to 5.7 per cent, up from the 4.6 per cent projected in April. It expects growth to moderate to 5.2 per cent in 2027.
The PCI is designed to preserve the gains made under the ECF while supporting further reforms in fiscal management, debt sustainability, governance and financial-sector stability. Unlike the previous bailout programme, the instrument does not provide direct financing.
For Ghana, the challenge will be to translate the improving macroeconomic outlook into sustained economic growth while strengthening resilience to external shocks and maintaining fiscal discipline.
As the Bangkok meetings conclude, the IMF’s assessment offers an encouraging signal for Ghana’s recovery. Sustaining that confidence, however, will depend on the consistent implementation of reforms and the country’s ability to safeguard the gains achieved so far.
