The International Monetary Fund (IMF) has commended Ghana for making significant progress in stabilising its economy under the ongoing recovery programme.

Speaking on Channel One TV’s The Point of View with Bernard Avle, on Monday, November 3, the IMF Resident Representative to Ghana, Dr. Adrian Alter, said key economic indicators point to strong improvements, particularly in inflation and external balances.

“From the onset, Ghana has made notable progress in economic recovery. If you look at the key economic indicators, inflation has eased from 54% to 9.4% in September 2025, and that’s the first time we have single-digit inflation in the past four years,” Dr. Alter said.

He added that Ghana’s international reserves now cover between three and four months of imports, a development he described as “an important and clear positive sign” of macroeconomic stability.

Dr. Alter, however, noted that while the stabilisation gains are evident in the broader economy, the full benefits are yet to be felt by ordinary citizens and businesses.

“The full benefits of stabilisation are still to be seen by the population and by the businesses on the ground. It takes time for these effects to trickle down,” he explained.

He emphasised that as inflation and the cedi stabilise, prices of goods—especially imports—are expected to ease. What is now needed, he said, is an increase in incomes to help restore purchasing power after years of economic strain.

“If inflation comes down, prices will stabilise. If the currency appreciates or stabilises, imported goods will become cheaper. What it needs now is basically income to catch up, and the purchasing power of the people will rebound,” he said.