The International Monetary Fund (IMF) has recognised Ghana's strong revenue performance in 2026 and progress in key tax administration reforms, reinforcing the contribution of the Ghana Revenue Authority (GRA) to the country's fiscal consolidation efforts.
The recognition came after an IMF staff team concluded discussions with the Ghanaian authorities on the first review of the country's 36-month Policy Coordination Instrument (PCI), reaching a staff-level agreement subject to approval by IMF Management and the Executive Board. The IMF said non-oil revenue is projected to further increase in 2027, supported by the tax measures announced in July 2026.
The GRA's revenue performance is a result of the tax measures announced in July 2026, the review of customs and excise legislation, and gains from revenue administration reforms, including the Integrated Tax Administration System and electronic fiscal devices. The IMF also said Ghana's macroeconomic stability was becoming entrenched, with the fiscal position remaining strong and the primary surplus on track to meet the programme's end-year target.
Among the reforms highlighted by the IMF were the early completion of a comprehensive review of customs and excise legislation, the ongoing rollout of the Integrated Tax Administration System (ITAS) and the introduction of electronic fiscal devices.
The IMF's positive assessment comes as the government prepares to implement its 2027 Budget, which targets a primary surplus of 0.5 per cent of Gross Domestic Product (GDP), in line with commitments under the PCI. The Fund said the fiscal space created through Ghana's consolidation efforts would support investment in priority areas, including job creation and infrastructure, while stressing the need for rigorous project appraisal, competitive procurement and strict expenditure controls.
The continued rollout of digital systems and tax administration reforms is expected to support the GRA's efforts to expand the revenue base and strengthen domestic revenue mobilisation.
GRA Commissioner-General Anthony Kwasi Sarpong said the recognition reinforced the Authority's contribution to Ghana's economic recovery and fiscal stability. He commended GRA staff for their contribution to the Authority's performance and expressed appreciation to taxpayers for their continued contribution to national development.
The IMF, however, cautioned that vulnerabilities remain, particularly from volatility in gold, cocoa and oil prices, alongside geopolitical tensions and tighter global financial conditions, making sustained reforms and stronger fiscal buffers important to protecting Ghana's recent economic gains.