Opinion - At long last, the Executive Board of the International Monetary Fund (IMF) has approved the long-awaited $3-billion bailout being sought by Ghana to reset its economy to ease the hardship in the country.
At long last, the Executive Board of the International Monetary Fund has approved the long-awaited $3-billion bailout being sought by Ghana to reset its economy to ease the hardship in the country.According to the arrangement, the IMF will disburse the three-year extended credit in batches, releasing $600 million as the first tranche, with the rest coming in tranches every six months as the country managers do the needful.
The Minister of State at the Ministry of Finance, Dr Mohammed Amin Adam, has confirmed that the $600 million has actually hit the BoG account. We are happy to hear this and also the fact that the Official Creditor Committee on Ghana has alluded to the strong reform programme being pursued by the government to restore macroeconomic stability and debt sustainability while laying the foundation for an inclusive recovery for which the country deserves the assistance.
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