IMF to lend $370 million to Ghana
The agreement will unlock a loan of $370 million under the IMF’s 36-month Extended Credit Facility (ECF).
KATHMANDU: The International Monetary Fund (IMF) and the Government of Ghana have reached a staff-level agreement on the fourth review of Ghana’s economic reform program.
The agreement will unlock a loan of $370 million under the IMF’s 36-month Extended Credit Facility (ECF).
Stephen Roudet, head of the IMF mission to Ghana, expressed satisfaction with the country’s economic performance and external sector recovery.
He noted that Ghana is making strong progress in restoring macroeconomic stability and achieving sustainable growth.
According to Roudet, the staff-level agreement marks a successful step in Ghana’s ongoing efforts to rebuild its economy.
The country’s foreign reserves are also improving, thanks to the accelerated accumulation by the Bank of Ghana.
