Ghana’s third tranche US$360 million to go to IMF Board end June

Ghana's second review for a third tranche of $360 million under the IMF's Extended Credit Facility is set for approval by the IMF Executive Board by the end of June 2024.

Julie Kovack, IMF Communications Director, confirmed this during a briefing, noting the disbursement would total $1.6 billion since May 2023.

This follows Ghana's staff-level agreement on economic reforms in April 2024 and ongoing negotiations with creditors.

The funds aim to stabilize Ghana's economy, with 2023 growth at 2.9%, surpassing IMF projections. Bank of Ghana Governor, Dr. Ernest Addison, emphasized the importance of these funds in stabilizing the Cedi and boosting foreign reserves.