Ghana Is On Track To Receive IMF Funds, But Outside Creditors Want It To Meet Its Duties

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.

Ghana Is On Track To Receive IMF Funds, But Outside Creditors Want It To Meet Its Duties
Ghana Is On Track To Receive IMF Funds, But Outside Creditors Want It To Meet Its Duties

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.

Use your ← → (arrow) keys to browse

See also  Authorities shut down a $249 monthly global phishing service that 2,000 hackers were using.

sikapa

Next Post

US watchdog files lawsuit to stop takeover of $8.5 handbags

Tue Apr 23 , 2024
Owning handbag companies like Kate Spade and Coach is Tapestry. The $8.5 billion (£6.9 billion) buyout of rival Capri by fashion accessory giant Tapestry has been challenged by the US Competition Commission. Michael Kors is one of Capri’s brands, and Coach and Kate Spade are among the handbag manufacturers owned […]
US watchdog files lawsuit to stop takeover of $8.5 handbags

You May Like