ACCRA, Dec. 20 (Xinhua) -- The Parliament of Ghana on Friday passed the appropriation bill approving government expenditure of 357.1 billion Ghana cedis (about 31 billion U.S. dollars) for the 2026 fiscal year.
The approval followed six weeks of debate by both sides of the House on the budget statement presented by Finance Minister Cassiel Ato Forson on Nov. 13.
During the debates, Forson said that the government had managed the economy prudently, ensuring strategic debt management without borrowing from the central bank.
Late Wednesday, the Executive Board of the International Monetary Fund (IMF) approved the fifth review of Ghana's reforms, paving the way for the immediate release of 385 million dollars to support the country's economic recovery.
"Ghana's performance under its Extended Credit Facility-supported reform program has been generally satisfactory. The authorities have shown strong program ownership by decisively implementing ambitious corrective actions after the 2024 policy slippages," the IMF said. ■