A staff-level agreement has been established with the International Monetary Fund (IMF) regarding the third review of Ghana’s US$3 billion extended credit facility.
This agreement follows a two-week assessment of Ghana’s fiscal data conducted by the Fund’s mission staff. During this review, the team analyzed Ghana’s performance against the established targets and structural benchmarks as of June 2024.
However, the agreement is contingent upon the approval of the IMF Board for the disbursement of the fourth tranche, amounting to US$360 million. If approved, this will raise Ghana’s total disbursements to US$1.92 billion.
Stéphane Roudet, the IMF mission staff leader for Ghana, shared this information during a press conference in Accra on Friday.
“The IMF staff and Ghanaian authorities have reached a staff-level agreement on the third review of Ghana’s economic programme under the Extended Credit Facility arrangement.”
“Performance under the IMF-supported programme has been generally satisfactory. All end-June 2024 quantitative targets were met, and progress on key structural reforms has continued notwithstanding delays in a few areas. The authorities’ policy and reform efforts under the programme have continued to deliver encouraging results,” he stated.
