Ghana’s poverty rate declined to 25.9% in 2024, down from 26.4% the previous year, according to the latest review by the International Monetary Fund (IMF).
The figure, which reflects the proportion of the population living below the international poverty line of US$2.15 per day, was published in the IMF’s Fourth Review under the Extended Credit Facility (ECF) arrangement with Ghana.
The Fund attributed the drop to improved economic growth—especially in the services sector and, to a lesser extent, agriculture—as well as the government’s renewed focus on social protection programmes.
“This progress reflects stronger growth outturn in 2024 and authorities’ continued efforts to expand the coverage and funding of key social protection schemes,” the IMF said.
Among the targeted initiatives cited were the Livelihood Empowerment Against Poverty (LEAP) programme, the Ghana School Feeding Programme (GSFP), the Capitation Grant, and the National Health Insurance Scheme (NHIS)—all of which are covered by programme conditionality under the IMF-supported reforms.
The 2025 national budget increased social protection allocations to 0.91% of GDP, up by 0.34 percentage points, the report noted.
With support from the World Bank, Ghana is also working to improve the targeting of LEAP beneficiaries and expand coverage from 350,000 to 400,000 households by the end of September 2025.
The IMF indicated that benefits under LEAP would also be indexed to inflation to maintain their real value.
Additional budget increases have also been earmarked for the School Feeding Programme, NHIS, and Capitation Grant—moves aimed at supporting basic education, absorbing the shock of food inflation, and strengthening the public health system through the procurement of essential vaccines and medicines.
The IMF praised Ghana’s steps to shorten delays in releasing funds to beneficiaries, describing them as critical to strengthening the country’s social safety net.
