ACCRA, July 28, 2026 (BSS/AFP) - The International Monetary Fund has approved a final disbursement of about $371 million to Ghana, the last tranche under the country's $3 billion support programme.

The IMF said Monday, after completing its sixth and final review, that Ghana's performance under the programme was "broadly satisfactory", citing stronger fiscal performance, higher foreign reserves and progress in restructuring public debt.

Ghana turned to the IMF in 2022 as spiralling debt, soaring inflation and a plunging currency -- worsened by the economic fallout from the Covid-19 pandemic and the war in Ukraine -- pushed the country into crisis.

The $3 billion programme was approved in May 2023.

The country's current president, John Mahama, was swept into office in a December 2024 vote amid the gold- and cocoa-rich country's worst economic turmoil in years.

"The comprehensive debt restructuring is largely complete, and Ghana's risk of debt distress has returned to moderate," IMF deputy managing director Bo Li said in a statement.

The IMF said Ghana's debt distress rating was upgraded after it signed debt relief agreements with more than half of its bilateral creditors while continuing "good faith" negotiations with external commercial creditors.

The fund said it granted Ghana a waiver after the central bank breached a programme target by exceeding the ceiling on credit extended to the government and public entities.

Finance Minister Cassiel Ato Forson told Ghana's parliament last week that this was the only performance measure that Ghana failed to meet under the programme.

The ministry said the programme's completion reflected the country's progress in restoring economic stability, citing "fiscal discipline, reduced inflation, strengthened external buffers" and other "key reforms".

The IMF said Ghana would transition to a non-financing Policy Coordination Instrument (PCI) with the IMF, a framework that supports reforms and signals policy credibility to investors without providing funding.