Education Minister Haruna Iddrisu Announces Ghana’s Planned Exit from IMF Programme by End of 2026
Minister for Education Haruna Iddrisu has revealed that Ghana is actively preparing to exit its International Monetary Fund (IMF) programme before the end of 2026, with a target to complete the process by August or latest by year-end.
The Minister made the announcement during a visit to the ongoing construction site of the University of Engineering and Agricultural Sciences at Bunso in the Eastern Region.
“We are just preparing to walk out of the IMF programme. Before the end of August or by the close of this year, we should be out,” he stated.
He explained that exiting the IMF programme would free up fiscal space and enable the government to meet outstanding financial obligations, particularly on stalled infrastructure projects that were severely affected by Ghana’s debt exchange programme.
“There is no doubt that the debt exchange programme caused long-term damage to the economy and affected the effective completion of projects like this,” he noted.
Mr Iddrisu disclosed that of the $90 million committed by the government for the University of Engineering and Agricultural Sciences project (which began in 2022), $28.6 million remains outstanding, including $9.8 million owed by the Ministry of Finance.
However, he expressed confidence that these payments will be honoured as Ghana transitions out of the IMF programme. He cited assurances from the Finance Minister that concessionary financing from South Korea remains among the most favourable available to the country.
“With certainty, the President will ask for additional financing to escalate this project so we can get better numbers,” he added, confirming that President John Dramani Mahama is expected to visit South Korea later this year to pursue further funding for the university’s expansion.
The Minister’s remarks signal renewed optimism about Ghana’s fiscal recovery and the government’s commitment to completing critical education infrastructure projects that were stalled during the debt restructuring period. The University of Engineering and Agricultural Sciences is seen as a key pillar in Ghana’s drive to strengthen technical and agricultural education.
