Ghana receives $185 million IMF Fund following ECF review

The completion of the two final reviews, will make available to Ghana, about $185.2 million
ghana debt
Ghana’s president Nana Akufo-Addo delivers a speech during the second day of the Mining Indaba, Africa’s biggest annual mining conference, on February 5, 2019, in Cape Town. (Photo by RODGER BOSCH / AFP)

The International Monetary Fund (IMF) on Wednesday completed the 7th  
and 8th reviews under the Extended Credit Facility (ECF)-supported  

“The completion of the two final reviews on March 20, 2019, will make  
available to Ghana, the cumulative amount of about $185.2 million”,  
the IMF said in a release issued on Wednesday. The amount represents  
the last tranche of the total $925.9 million approved under the  
three-year programme. 

The arrangement aimed at restoring debt sustainability and  
macroeconomic stability in the country is to foster a return to high  
growth and job creation while protecting social spending. 

Tao Zhang, Deputy Managing Director and Acting Chair of the IMF,  
issued the following statement: 

Your Friends Also Read:  Business Edge | NERSA Grants Eskom’s Request For Electricity Price Hike

“The authorities have achieved significant macroeconomic gains over  
the course of the ECF-supported program, with rising growth,  
single-digit inflation, fiscal consolidation, and banking sector  
clean-up. Continued macroeconomic adjustment should underpin these  
improvements, as the 2020 elections approach. Progress on structural  
reforms needs to be intensified. Plans to improve public financial  
management and supervision of state-owned enterprises (SOEs), the  
establishment of a fiscal council, and the fiscal rule are welcome.  
Stronger monitoring of fiscal operations, including for SOEs, will  
help mitigate fiscal risks”. 

All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from News Central TV.
Your Friends Also Read:  Pirates Attack Passenger Boats, Kill Two in Rivers State, Nigeria



Leave a Reply

Previous Article

Sudan has dissolved its Petroleum Corporation

Next Article
internet shutdown

Internet disruptions are becoming a mainstay in Africa

Related Posts
Powered by Live Score & Live Score App