After an interaction with President Akufo-Addo, the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva is expected to meet with the Finance Minister, Dr. Mohammed Amin Adam and Bank of Ghana Governor, Dr. Ernest Addison alongside some representatives from some interest groups on the way forward for Ghana’s three-year US$ 3 billion extended credit facility with the Fund. She will host a conference on Artificial Intelligence today in collaboration with the Ministry of Finance.
The Conference is focused on using, “AI as a catalyst to transform economies in sub-saharan Africa”. In January 2024, the Bank of Ghana acknowledged receipt of US$600 million as the second tranche for budget support and stabilisation of the local currency, bringing the total to US$ 1.2 billion out of the $3 billion approved under the three-year extended credit facility in May 2022.
The IMF has stated that Ghana is performing well under the programme, with reforms bearing fruit and signs of economic stabilisation emerging. It highlighted that Ghana’s performance under the programme has been strong with all quantitative performance criteria and almost all indicative targets and structural benchmarks being met. Ghana’s next IMF programme review is scheduled for June 2024 for the third tranche of approximately US$ 360 million.
