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The government is aiming to improve Ghana’s sovereign credit rating as it prepares to transition from the International Monetary Fund bailout programme into a new Policy Coordination Instrument (PCI) arrangement focused on maintaining economic stability and boosting investor confidence.
Technical Advisor at the Ministry of Finance, Theo Acheampong, explained that the IMF-supported framework could help move Ghana’s current credit rating from “B” to the higher “BB” category. According to him, such an upgrade would lower borrowing costs and make financing more affordable for both the government and private businesses.
Speaking on The Point of View hosted by Bernard Avle, Dr. Acheampong clarified that the PCI is not another bailout programme but rather a policy support mechanism intended to strengthen economic credibility and reassure investors as well as credit rating agencies.
He noted that achieving a “BB” rating could reduce Ghana’s cost of capital by between 100 and 200 basis points, adding that the improvement would benefit not only the government but also businesses and investors seeking to raise capital.
Ghana recently completed its $3 billion IMF Extended Credit Facility programme ahead of schedule and is expected to move into the PCI framework by July 2026.
Dr. Acheampong said the new arrangement would provide technical policy guidance and help enforce fiscal discipline without involving additional IMF borrowing.
He further indicated that the PCI could help Ghana avoid the election-year fiscal overruns that have historically contributed to repeated returns to the IMF.
The Ministry of Finance also believes the framework will improve Ghana’s access to concessional funding from institutions such as the World Bank Group and the African Development Bank while strengthening confidence in the country’s long-term economic recovery.
Source: citinews
