Ouagadougou: The Executive Board of the International Monetary Fund (IMF) has approved the disbursement to Ghana of the third tranche of approximately $360 million of the $3 billion loan program, announced the IMF in a press release.
The total amount received by Ghana under the loan program amounts to $1.56 billion, the statement noted. The disbursement of this tranche comes after the completion of the second review of the reforms implemented by the Ghanaian authorities. ‘The Ghanaian government’s reform efforts are bearing fruit: economic growth has been more robust than expected, inflation has fallen rapidly compared to the peaks observed in 2022, and the fiscal situation has improved,’ underlines the IMF.
Ghana is currently experiencing significant financial difficulties, reflected in high inflation, which stood at 22.1% last May, rapidly rising food and energy prices and considerable external debt. At the start of 2023, the country’s external debt stood at around $30 billion.
Source: Burkina Informati
on Agency