The World Bank has committed 300 million dollars to the Ghana Financial Stability Fund.
The 1.5 billion-dollar fund has been set up by the government to support financial institutions that fully participated in the Domestic Debt Exchange Programme against the adverse effect of the programme on their liquidity.
Speaking at a programme with some partners at the Ministry of Finance in Accra, Mrs. Osei-Asare said the fund is to get the economy back on track.
Mrs. Osei-Asare said the Minister of Finance, Ken Ofori-Atta is on his way to China as part of negotiations with the country’s external creditors.
Ghana is indebted to China to the tune of 1.7 billion dollars and the outcome of trip to China will have great impact on IMF Board’s approval of Ghana’s support programme with the fund.
