The International Monetary Fund (IMF) has given Ghana’s 2027 Budget a strong endorsement, describing it as firmly grounded and fully aligned with the country’s Policy Coordination Instrument (PCI) programme. After reviewing the first phase of the 36-month programme, the IMF mission team said the budget’s target of a 0.5% primary surplus of Gross Domestic Product (GDP), backed by revenue measures approved by Parliament in July 2026, was credible and consistent with the programme’s goals. IMF said the fiscal room created would allow government to invest in its New Economy priorities, including job creation, investment opportunities and closing the infrastructure gap, but warned that rigorous project appraisal, competitive procurement and strict spending controls would be essential to secure value for money and keep debt sustainable.
Building on impressive revenue performance in 2026, the Fund projects non-oil revenue to rise further in 2027, driven by the July 2026 tax measures, a review of customs and excise laws, and gains from reforms such as the Integrated Tax Administration System and electronic fiscal devices. The IMF staff team, led by Ruben Atoyan, was in Accra from October 22 to November 4, 2026, for discussions on the first review of the PCI programme.The Fund reaffirmed its support for Ghana’s drive to preserve economic stability and deliver stronger, more inclusive and job-rich growth, signalling continued confidence in the country’s reform path.
