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Ghana’s macroeconomic outlook remains positive but subject to significant downside risks, the International Monetary Fund has revealed in its Second Review of Ghana’s Extended Credit Facility Programme.

The risks it said stem mainly from a deterioration of the external environment, delays in the implementation of the authorities’ comprehensive debt restructuring, and policy and reform slippages ahead of the end-2024 general elections.

The Fund said the programme performance has been generally strong.

"Notwithstanding the remarkable progress thus far, some challenges remain. Fully and durably restoring macroeconomic stability will require continued efforts to mobilize higher domestic revenue, control government spending, further reduce inflation, and rebuild international reserves. More progress is also needed towards tackling financial sector legacy issues and improving foreign exchange market operations", the report said.

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