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Finance minister leads Ghana's delegation to 2025 IMF-World Bank annual meetings

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  Published in Business and Finance on Saturday, October 18th 2025 at 14:44 GMT by Ghanaweb.com
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Ghana Prepares for Key International Finance Meetings Led by Ken Ofori-Atta

Ghana’s Finance Minister, Kenneth (Ken) Ofori-Atta, is leading a delegation to Marrakech, Morocco, to participate in the 2025 annual meetings of the International Monetary Fund (IMF) and the World Bank. The event, scheduled for October 13th - 17th, will bring together global financial leaders, policymakers, academics, and representatives from civil society organizations to discuss pressing economic challenges and opportunities facing developing nations. This year’s focus is particularly significant for Ghana as it navigates its post-debt restructuring environment and seeks continued support from these international institutions.

The Ghanaian delegation includes key figures such as the Governor of the Bank of Ghana, Ernest Addison, and other senior officials from various ministries. Their participation underscores the government's commitment to engaging with the IMF and World Bank on critical issues related to economic stability, sustainable development, and poverty reduction. The meetings provide a crucial platform for Ghana to present its progress under the Extended Credit Facility (ECF) program, advocate for policy reforms, and explore potential avenues for further financial assistance.

Context: Ghana’s Relationship with the IMF & Current ECF Program

Ghana entered into an agreement with the IMF in May 2022 under a $3 billion ECF arrangement aimed at restoring macroeconomic stability and debt sustainability. This followed a period of significant economic distress, characterized by high inflation, rising public debt levels, and currency depreciation. The program requires Ghana to implement fiscal consolidation measures, including tax reforms, expenditure cuts, and improvements in revenue mobilization. The initial rollout faced considerable challenges, including protests over the government’s proposed policies and delays in parliamentary approval for key legislative changes.

[ https://www.imf.org/en/Countries/GHA ] – This link leads to the IMF's country page for Ghana, providing detailed information on the ECF program, including policy commitments and performance reports.

The recent debt restructuring exercise, which saw significant haircuts imposed on both domestic and external creditors, was a pivotal moment for Ghana’s economy. Successfully completing this process was a prerequisite for unlocking further disbursements under the IMF program. While the agreement has been reached, its full impact remains to be seen, particularly concerning investor confidence and future borrowing capacity. The annual meetings offer an opportunity for Ofori-Atta to articulate Ghana's strategy for rebuilding trust with creditors and attracting foreign investment.

Key Discussion Points Expected at the Meetings

Several key themes are expected to dominate discussions during the IMF-World Bank annual meetings, all of which have direct relevance to Ghana’s economic situation:

• Debt Sustainability: The global debt landscape remains precarious, particularly for low-income countries. Discussions will likely focus on improving debt restructuring frameworks and exploring innovative financing solutions to alleviate debt burdens. Ghana's experience in debt restructuring is expected to be a subject of interest and potential case study.
• Climate Change & Development: The intersection of climate change and economic development is increasingly recognized as a critical challenge. Ghana, like many African nations, faces significant vulnerabilities related to climate change impacts, including droughts, floods, and rising sea levels. Discussions will center on mobilizing climate finance and promoting sustainable development pathways.
• Food Security: Global food prices remain elevated, impacting vulnerable populations in developing countries. Ghana's agricultural sector requires investment and policy support to enhance productivity and resilience. The meetings provide a platform for advocating for increased assistance in this area.
• Digital Economy & Financial Inclusion: Leveraging digital technologies to promote financial inclusion and economic growth is another key focus. Ghana has made strides in expanding access to mobile money services, but further efforts are needed to bridge the digital divide and ensure equitable participation in the digital economy.
• Regional Economic Integration: Strengthening regional trade and cooperation within Africa remains a priority for Ghana. Discussions will likely explore ways to enhance intra-African trade and investment flows.

[ https://www.worldbank.org/en/about/events/annual-meetings ] – This link leads to the World Bank’s page for the annual meetings, providing an agenda overview and information on related events.

Ofori-Atta's Objectives & Potential Challenges

Ken Ofori-Atta’s primary objectives at the Marrakech meetings are expected to include: securing continued support under the ECF program; showcasing Ghana’s progress in implementing agreed reforms; advocating for policy adjustments to better reflect the country’s evolving economic circumstances; and engaging with potential investors to attract foreign direct investment.

However, several challenges could hinder these efforts. The ongoing implementation of fiscal consolidation measures remains politically sensitive, and any perceived backtracking on commitments could raise concerns among the IMF and World Bank. Furthermore, maintaining investor confidence in the wake of the debt restructuring will be crucial for attracting future financing. The Finance Minister’s ability to effectively communicate Ghana's economic strategy and address potential criticisms will be vital for achieving a positive outcome from the meetings. The recent change in leadership at the Ministry of Finance, with Ofori-Atta stepping down, also introduces an element of uncertainty regarding continuity and policy direction.

The 2025 IMF-World Bank annual meetings represent a critical juncture for Ghana’s economic recovery. The outcomes of these discussions will significantly shape the country's future trajectory and its ability to achieve sustainable and inclusive growth.