IMF to disburse US$360m third tranche to Ghana without creditors MoU
Mr Abebe Aemro Selassie, Director, African Department, International Monetary Fund (IMF), says Ghana will receive its next funding support from the IMF even if it is unable to sign a final debt pact with its official bilateral creditors. This means that the country would receive its third tranche of US$360 million when the IMF Board […]
IMF commends Ghana for meeting almost all targets under bailout programme
By: Franklin ASARE-DONKOH The International Monetary Fund (IMF) has commended Ghana for successfully achieving almost all targets set for the $3 billion three-year extended credit facility. In a statement issued on Friday, January 19, 2024, the IMF highlighted that “Ghana’s performance under the programme has been strong. It said all quantitative performance criteria for the […]
IMF approves second $600m for immediate disbursement to Ghana
By: Franklin ASARE-DONKOH The International Monetary Fund (IMF) has approved the second tranche of US$600 million for Ghana. The IMF Ghana Country Director announced this during a joint press conference held on Friday, January 19, 2024. “The Executive Board of the International Monetary Fund (IMF) completed today the First review of the $3 billion, 36-month […]
IMF, World Bank working to accelerate debt treatment for Ghana under G20 Common Framework
The International Monetary Fund, IMF, and World Bank are working together to accelerate debt restructuring for Ghana and other countries under the Group of Twenty, G20, Common Framework. The IMF and the World Bank are bringing all relevant creditors and debtors together with promising signs. Managing Director of IMF, Kristalina Georgieva, said this during a […]
Ghana’s economy on path of recovery; set to grow by 3.7% in 2024 – Fitch
Ghana’s economy is said to be on the path of recovery with Fitch Solutions projecting that economic growth will accelerate to 3.7% in 2024. Fitch in a report said the possible increase in growth rate will ease price pressures owing to more favourable exchange rate dynamics as consumer activity strengthens. Fitch Solutions, however, maintained its […]
Prez Akufo-Addo says gov’t will begin rigorous expenditure cuts to meet conditionalities attached to $3 billion IMF bailout
President Akufo-Addo has disclosed that his government will begin rigorous expenditure cuts to meet the conditionalities attached to the $3 billion bailout by the International Monetary Fund (IMF). President Akufo-Addo said his government is eager to turn the fortunes of the country around and will do everything possible to ensure that the ailing economy is […]
MPs urged to support government in securing IMF approval
The Finance Minister, Mr Ken Ofori-Atta, has appealed to Members of Parliament (MPs) to support the Government in efforts to secure the International Monetary Fund (IMF) Board approval to restore macro-economic stability in the country. That would ensure debt sustainability and provide critical social protection for the benefit of Ghanaians. Mr Ofori-Atta made the appeal […]
Economist commends Ghana’s $3 billion Staff-Level Agreement with IMF
By Michael Ahinsah Economic Expert, Seth Peter Terkper, has commended the government for its efforts in securing a Staff-Level Agreement with the International Monetary Fund. Ghana managed to secure a staff-level agreement with the International Monetary Fund for a $3 billion bailout, a key step in the West African nation’s plans to restructure its unsustainable […]
