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Claim: Liberian journalist and radio host Clarence Jackson claimed that Ghana has withdrawn from the International Monetary Fund (IMF) Extended Credit Facility Program.
Verdict: Misleading. According to IMF data, Ghana did not withdraw from the IMF Extended Credit Facility Program; rather, it completed its bailout and exited the program, transitioning to a 36-month policy coordination instrument.
Full text
The International Monetary Fund (IMF) Extended Credit Facility Program is one of the IMF’s instruments under the Poverty Reduction and Growth Trust, and it provides medium-term financial assistance to low-income countries (LICs) with protracted balance-of-payments problems.
This IMF program aims to help eligible countries make significant progress toward a stable and sustainable macroeconomic position consistent with strong and durable poverty reduction and growth.
In 2022, Ghana, under ex-president Nana Akufo-Addo, announced its return to the IMF under an Extended Credit Facility Programme to salvage its economy. Even after Akufo-Addo lost the 2024 elections to the opposition National Democratic Congress, the country remained under the programme for a while.
The story of Ghana’s return to the IMF resurfaced when Liberian journalist and OK 99.5 FM station manager Clarence Jackson claimed that Ghana has withdrawn from the International Monetary Fund (IMF).
Jackson, who also hosts the station’s morning show, the OK Morning Rush, made the claim during the Oct. 5, 2026 edition.
He said, “I understand Ghana withdrew from the IMF program.” The claim appears between 53:42 and 54:18 of the over two-hour show.
The show, OK Morning Rush, aired live on the station’s official Facebook page and generated over 200 comments, 14k views, and more than 300 reactions.
Jackson’s claim comes amid mixed reactions trailing Ghanaian President John Dramani Mahama’s recent disclosure that $2 billion has been set aside from taxpayers’ money to build the Accra-Kumasi expressway.
Jackson said, “The current finance minister in Ghana seems to be turning the wheels. The Ghanaian economy used to be bad during the latter days of former Ghanaian President Nana Addo.”
As part of our mandate to ensure truth and accuracy in the political discourse across the region, DUBAWA decided to investigate.
Verification
The researcher first reached out to the claimant, Journalist Clarence Jackson, for evidence to support his claim.
He shared a link to a press release from the Presidency of the Republic of Ghana.
According to the press release, the Government of Ghana announced the official conclusion of its Extended Credit Facility (ECF) programme with the International Monetary Fund (IMF), and its transition to a non-financial Policy Coordination Instrument (PCI) to maintain long-term fiscal stability.
Ghana’s Minister of State for Government Communications, Felix Kwakye Ofosu (MP), explained that the programme’s successful conclusion follows a period of rigorous fiscal discipline and structural reforms.
Nowhere in the press statement was there an official admission that Ghana had withdrawn. Instead, the country had concluded a three-year programme under the IMF.
The researcher also visited the IMF’s official website and found nothing relating to the claim, but found that the IMF Executive Board completed the Sixth Review of Ghana’s Arrangement Under the Extended Credit Facility.
Conclusion
Based on the available research and information, the claim that Ghana has withdrawn from the IMF Extended Credit Facility Program is misleading.