The International Monetary Fund has praised Ghana’s economic recovery programme, stating that it has achieved “substantial stabilisation gains” marked by falling inflation, stronger fiscal performance, improved foreign reserves, and renewed confidence in the Ghanaian cedi.

The Government of Ghana has announced the successful conclusion of its Extended Credit Facility (ECF) programme with the International Monetary Fund, describing the development as a major milestone in the country’s economic recovery and the restoration of macroeconomic stability and debt sustainability ahead of schedule.

The International Monetary Fund has urged Ghana to accelerate private sector participation in the operations of the Electricity Company of Ghana (ECG), warning that long-standing inefficiencies in the energy sector continue to pose risks to public finances and overall economic stability.

The Chief Executive Officer of the Ghana Chamber of Mines, Ing. Ken Ashigbey, has strongly opposed proposals by the Institute of Economic Affairs (IEA) suggesting the nationalisation of mining assets in Ghana, arguing that the country should instead prioritise stronger regulation, transparency and investor confidence within the mining sector.

The Importers and Exporters Association of Ghana has welcomed the government’s decision to postpone the implementation of the revised Container Administrative Charge, describing the move as a positive intervention aimed at restoring calm and stability within the country’s shipping and logistics sector.

Ghana recorded a significant expansion in economic activity in February 2026, with the economy growing by 7.7 percent year-on-year, according to the latest Monthly Indicator of Economic Growth (MIEG) released by the Ghana Statistical Service.

Management of Ghana Hostels Limited (GHL) is demanding an immediate and unconditional apology from the Acting Rent Commissioner, Fredrick Opoku, following comments he allegedly made concerning accommodation charges at the Pentagon Hostel.

Ghana is exploring multiple post-International Monetary Fund programme options as government officials prepare for the country’s next phase of economic management beyond the current IMF-supported bailout arrangement.

The Acting Rent Commissioner, Frederick Opoku, has cautioned landlords and property owners against arbitrarily fixing rent prices without proper assessment, stressing that Ghana’s rent laws require all rental properties to undergo official evaluation processes.

The Bank of Ghana has released its latest foreign exchange rates, showing slight movements in the performance of the Ghana cedi against major international currencies on Friday, May 8, 2026.

Secretary-General of the African Continental Free Trade Area Secretariat, Wamkele Mene, has held high-level discussions with Anita Anand, Canada’s Minister of Foreign Affairs, on strengthening trade and investment relations between Africa and Canada amid growing uncertainty in the global economy.

Former Finance Minister Seth Terkper has defended recent government efforts to reform and tighten management of Ghana’s gold sector, arguing that the measures have significantly strengthened the country’s foreign reserves and contributed to the appreciation of the cedi.

Speaking on PM Express Business Edition, Mr. Terkper addressed ongoing public debate surrounding the financial losses recorded by the Bank of Ghana, insisting that the discussion should not focus solely on the central bank’s balance sheet but also consider the broader economic gains achieved through recent policy interventions.

According to him, one of the government’s immediate priorities was to rebuild Ghana’s external reserves in order to improve macroeconomic stability and restore confidence in the economy.

“One of the things was moving quickly to strengthen the reserves, which translated into the appreciation of the cedi,” he stated.

Mr. Terkper explained that the gains in reserves were closely linked to reforms introduced in the gold sector, particularly efforts aimed at improving transparency and tightening control over gold marketing and exports.

“It’s the sanitisation of the marketing of gold,” he said.

He acknowledged that the reforms may not have been flawless but maintained that they produced meaningful economic benefits for the country.

“Yes, you couldn’t get everything right, but at the same time, we need to compliment,” he remarked.

The former Finance Minister noted that the restructuring and regulation of the sector helped reduce leakages, improve accountability, and increase the amount of gold-related revenue and reserves flowing into the central bank.

“There’s some sanitisation of that whole sector, which led to a significant increase in reserves for the central bank,” he explained.

Mr. Terkper further placed Ghana’s gold industry within the context of the global financial system, arguing that gold remains one of the strongest alternatives to the US dollar in global markets.

“Globally, gold is the most aggressive competitor for the dollar, before you come to the euro, yen and others,” he stated.

He stressed that despite Ghana’s long-standing identity as one of the world’s major gold producers, the country had historically failed to maximise the strategic economic value of its mineral resources.

“Ghana is the Gold Coast,” he said.

Mr. Terkper also raised concerns about the extent to which Ghana’s gold had benefited foreign economies more than the country itself over the years.

“Ghana’s gold was going all the way out to other countries, which they were using to stabilise their economy, from the Middle East to Europe to everywhere,” he noted.

He suggested that the recent reforms are intended to ensure Ghana derives greater economic value from its gold resources while strengthening national reserves and supporting long-term currency stability.