-Bringing Total Disbursement to US$1.92 Billion
Ghana is on the verge of securing another financial injection under its ongoing programme with the International Monetary Fund (IMF), as the IMF Executive Board is scheduled to meet in December 2024.
The board is expected to approve the release of US$360 million, the fourth tranche in a series of disbursements. Once approved, this will bring the total amount disbursed under the IMF-supported programme to US$1.92 billion.
This announcement follows the successful completion of the third review of Ghana’s IMF programme, which was concluded after an intensive two-week review mission led by IMF Mission Chief Stephane Roudet.
The IMF staff-level agreement highlights the country’s progress in meeting the programme’s key objectives, including restoring macroeconomic stability, ensuring debt sustainability, and fostering inclusive growth through wide-ranging structural reforms.
The third review of the programme showed that Ghana is on track to meet all six Quantitative Performance Criteria (QPCs) and four Indicative Targets (ITs) a first for the country. Additionally, Ghana has exceeded the inflation target set under the programme and met nearly all the structural benchmarks that were due by September 2024.
The IMF programme aims to build resilience and lay the foundation for stronger economic growth while protecting the poor and vulnerable.
The disbursement of the US$360 million, expected in December, will support Ghana’s efforts to stabilize its economy amid ongoing global economic challenges.
