{"id":137389,"date":"2024-01-09T12:32:23","date_gmt":"2024-01-09T12:32:23","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/01\/09\/ghana-creditors-near-1-5bn-funding-deal\/"},"modified":"2024-01-09T12:32:23","modified_gmt":"2024-01-09T12:32:23","slug":"ghana-creditors-near-1-5bn-funding-deal","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/01\/09\/ghana-creditors-near-1-5bn-funding-deal\/","title":{"rendered":"Ghana, Creditors Near $1.5bn Funding Deal"},"content":{"rendered":"<p><\/p>\n<div>\n<p><strong>Ken Ofori Atta<\/strong><\/p>\n<p>\u00a0<\/p>\n<p>Ghana is inching towards securing a $1.15 billion funding from the\u00a0International Monetary Fund\u00a0(IMF) and the\u00a0World Bank\u00a0by the end of February 2024, as discussions with bilateral creditors near conclusion.<\/p>\n<p>Finance Minister,\u00a0Ken Ofori-Atta, speaking with Bloomberg by phone said he is \u201cconfident\u201d that official creditors will agree on a memorandum of understanding in a meeting scheduled for yesterday January 8, 2024.<\/p>\n<p>A successful discussion would enable the IMF executive board to meet and review the country\u2019s performance under a programme that started in May 2023.<\/p>\n<p>It will also lead to the approval of a disbursement of $600 million, the second tranche of its $3 billion bailout. The board will likely meet on January 18, 2023, after delays, Mr. Ofori-Atta said.<\/p>\n<p>A board approval will also \u201ctrigger\u201d the process for two World Bank disbursements totaling $550 million, said Mr. Ofori-Atta.<\/p>\n<p>The World Bank has committed $300 million in budgetary support and another $250 million toward Ghana\u2019s\u00a0Financial Stability Fund, so \u201cwe are in good shape,\u201d he told Bloomberg.<\/p>\n<p>\u201cThe budgetary support disbursement is expected by the end of this month and the contribution to the fund that provides liquidity to financial institutions impacted by the domestic debt restructuring will likely come in by the end of February,\u201d he explained.<\/p>\n<p>\u00a0<\/p>\n<p><strong>A business Desk Report<\/strong><\/p>\n<p><!-- AI CONTENT END 2 -->\n\t<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ken Ofori Atta \u00a0 Ghana is inching towards securing a $1.15 billion funding from the\u00a0International Monetary Fund\u00a0(IMF) and the\u00a0World Bank\u00a0by the end of February 2024, as discussions with bilateral creditors near conclusion. Finance Minister,\u00a0Ken Ofori-Atta, speaking with Bloomberg by phone said he is \u201cconfident\u201d that official creditors will agree on a memorandum of understanding in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":137390,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-137389","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ghana, Creditors Near $1.5bn Funding Deal - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/01\/09\/ghana-creditors-near-1-5bn-funding-deal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ghana, Creditors Near $1.5bn Funding Deal - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Ken Ofori Atta \u00a0 Ghana is inching towards securing a $1.15 billion funding from the\u00a0International Monetary Fund\u00a0(IMF) and the\u00a0World Bank\u00a0by the end of February 2024, as discussions with bilateral creditors near conclusion. 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