Advertisement
Advertisement
Ghana News

Ghana to receive $1.15 billion from IMF/World Bank by end of February 2024 – Report

Advertisement

By the end of February, Ghana is anticipated to receive $1.15 billion in assistance from the International Monetary Fund and the World Bank.

This comes as bilateral creditors are close to reaching an agreement on the conditions of the country’s debt restructuring.

Advertisement

According to the Minister of Finance, he is sure that formal creditors will reach an agreement in a meeting set for January 8, according to Bloomberg.

Ghana is now seeking an agreement with bilateral creditors, which would allow the IMF executive board to convene to examine Ghana’s performance under the PC-PEG program.

The IMF program began in May with the approval of the first $600 million tranche.

The country is presently waiting for the second installment of the $3 billion bailout.

Following the delays, Ofori-Atta stated that the board will most likely convene on January 18.

He had claimed that the second tranche will be available to Ghana by the end of 2023.

“A board approval will also “trigger” the process for two World Bank disbursements totaling $550 million, said Ofori-Atta. The Bank has committed $300 million in budgetary support and another $250 million toward Ghana’s Financial Stability Fund, so “we are in good shape,” Bloomberg said.

 

 

Advertisement
Advertisement

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement
Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker!