Finance Minister, Dr. Mohammed Amin Adam has confirmed the country’s anticipation of receiving a US$360 million disbursement from the International Monetary Fund (IMF) in the first week of December 2024.
This anticipation is contingent on the IMF Executive Board’s approval of the third review of the Extended Credit Facility (ECF) completed by the IMF staff.
Few minutes after the joint release by the Ministry of Finance and the IMF, Dr. Amin Adam took to his X page, formerly Twitter to post “We expect the IMF Executive Board to meet on Ghana’s 3rd review in the first week of December 2024, with an immediate release of the 4th tranche of US$360 million upon successful conclusion of the review at the Board level.”
The timely release of this fourth tranche will be crucial in bolstering Ghana’s ongoing efforts to stabilize its economy amid inflationary pressures, rising debt, and global financial challenges.
The country has made strides in meeting the end-June 2024 quantitative targets, and progress on structural reforms continues despite some delays.
With the anticipated funds, the government aims to reinforce its fiscal and monetary policies, strengthen public sector reforms, and implement key measures aimed at fostering long-term economic resilience.
The injection of the US$360 million will provide much-needed financial backing to support the government’s agenda of driving sustainable economic growth and ensuring macroeconomic stability.
