The government of Ghana is set to
receive six hundred million dollars ($600m) as first tranche of the bailout
package from the International Monetary Fund (IMF).
According to multiple reports,
the money will hit the accounts of the Bank of Ghana on Friday, May 19.
The transfers, according to
Accra-based Joy FM, would be done in two instalments; the first one coming in
by Friday May 19, 2023 or Monday, May 22, 2023.
Another disbursement is expected
to be done in June 2023.
This will be followed by a visit
by an IMF Mission to Ghana in June 2023 to review Ghana’s programme
considerations.
Another review is expected just
before the end of 2023, possibly in December 2023, before the final disbursement.
All the funds will be paid
directly into the Bank of Ghana’s account to support Ghana’s balance of
payments needs.
Ghana is expected to get about $3
billion spread over a period of three years under the IMF programme.
Ghana secured the required
financing assurance from Ghana’s Creditors Committee under the G20 Common
Framework last week, which includes China.
This came after the Managing
Director of the IMF, Kristalina Georgieva, indicated that Ghana will secure the
financing assurance under the G20 Common Framework
SOURCE: PULSE.COM.GH
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