\n
The International Monetary Fund (IMF) has approved a $360 million disbursement to Ghana following the successful completion of the third review under its $3 billion Extended Credit Facility (ECF) program. This brings Ghana\u2019s total receipts from the program to $1.92 billion, with the funds expected to be credited to the Bank of Ghana by the end of the week.<\/p>\n
According to an IMF statement, Ghana\u2019s performance under the ECF has been \u201cgenerally satisfactory,\u201d with notable progress in key economic areas. \u201cGrowth is recovering rapidly, inflation has declined\u2014although at a slower pace, and the fiscal and external positions have continued to improve,\u201d the IMF stated.<\/p>\n
Debt Restructuring Milestones<\/strong><\/p>\nGhana\u2019s government has made significant strides in restructuring its public debt. Following the successful restructuring of domestic debt in 2023, the country reached an agreement with the Official Creditors Committee (OCC) under the G20 Common Framework in June 2024. Additionally, Ghana has completed the exchange of its Eurobonds under conditions aligned with the ECF program parameters. The government is now intensifying negotiations with external commercial creditors to finalize a comparable restructuring deal.<\/p>\n
Monetary and Financial Sector Stability<\/strong><\/p>\nThe Bank of Ghana (BoG) continues to implement prudent monetary policies to reduce inflation and rebuild international reserves. The IMF acknowledged the BoG\u2019s efforts in strengthening financial sector stability, including measures to ensure timely bank recapitalization and maintaining the viability of the banking sector. Additionally, the government has initiated the recapitalization of state-owned banks in line with available resources.<\/p>\n
Read Also: <\/strong>TUC cautions gov\u2019t against going to IMF<\/p>\nThe IMF\u2019s approval of this latest disbursement underscores confidence in Ghana\u2019s ongoing reforms and recovery efforts. The funds are expected to further bolster economic stability, support debt management, and foster sustainable growth.<\/p>\n
As Ghana continues to implement structural reforms and engage with its creditors, the IMF remains a key partner in the nation\u2019s journey toward economic resilience and fiscal consolidation.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
The International Monetary Fund (IMF) has approved a $360 million disbursement to Ghana following the successful completion of the third review under its $3 billion Extended Credit Facility (ECF) program. This brings Ghana\u2019s total receipts from the program to $1.92 billion, with the funds expected to be credited to the Bank of Ghana by the […]<\/p>\n","protected":false},"author":1,"featured_media":241869,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-259707","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n
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