According to Abebe Selassie, Director of the IMF’s African Department, Ghana has fulfilled its portion of the procedure to get the release of the third tranche from the IMF.
During his speech to the World Bank and IMF Spring Meetings in Washington, D.C., Selassie emphasized that Ghana had quickly come to a consensus with the official creditor committee, enabling the board to accept the program.
According to Stéphane Roudet, the head of the IMF mission in Ghana, the board’s evaluation was subject to Ghana’s ability to come to an arrangement with its foreign creditors.
Roudet emphasized that the required financial assurances will be provided via an agreement on a memorandum of understanding (MoU) for debt treatment in accordance with program criteria between official creditors and Ghanaian authorities.
Ghana would receive $360 million upon the review’s conclusion, making the total amount of IMF funding disbursed under the agreement since May 2023 $1.56 billion.
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