The International Monetary Fund (IMF) has credited $367 million to the Bank of Ghana’s account, following the successful completion of Ghana’s fourth review under the Extended Credit Facility (ECF) programme.
This latest disbursement, received on Wednesday, July 9, represents the fifth tranche of the $3 billion support package approved in 2023.
It is expected to bolster Ghana’s external reserves, stabilise the local currency, and support the government’s balance-of-payments needs.
The three-year IMF programme, which commenced in May 2023, aims to restore macroeconomic stability, ensure debt sustainability, and drive structural reforms. It was introduced amid soaring inflation, a depreciating cedi, and rising public debt levels.
Finance Minister Dr. Cassiel Ato Forson noted that Ghana has so far exceeded expectations under the programme, which has helped to rebuild both domestic and investor confidence in the economy.
He argued that this disbursement will further support budget implementation, aid in stabilising the cedi, and help meet external obligations as the country pursues a path to economic recovery.
Story By: Nana Antwi Boasiako
