IMF Board set to review Ghana’s economic progress with possible disbursement of $360M
Finance Minister Dr. Mohammed Amin Adam has disclosed that the IMF Board is scheduled to meet on December 2, 2024, to discuss Ghana’s Third Programme Review. This review could result in the release of 360 million dollars to support the government’s budget and balance of payment needs. This follows a staff-level agreement reached with the […]
IMF Debt – Ghana ranks number four in Africa
Ghana placed 4th in Africa with the highest outstanding debt to the International Monetary Fund according to the Fund’s 2024 Quarterly Financial Statement. The country’s total indebtedness to the IMF stood at 2.275 billion Special Drawing Rights, equivalent to 3.068 billion dollars. Egypt came first in Africa, owing the IMF SDR 10.050 billion. It was […]
IMF team arrives in Ghana for deliberations on fourth tranche
By: Roselyn Gayaglo A team from the International Monetary Fund, IMF are in Ghana for discussions on the third review for approval of the fourth tranche of the IMF loan. The Minister of Finance, Dr. Mohammed Amin Adam disclosed last month that the review will enable the Board to immediately disburse the fourth tranche of […]
Government to publish audit reports from cash waterfall mechanism – Dr. Amin Adam
The government has announced plans to publish audit findings of the cash waterfall mechanism to enhance transparency and accountability within the country’s energy sector. This move comes amidst significant financial challenges the sector faces, including a substantial debt burden owed to independent power producers amounting to over one billion dollars. To address the mounting debt, […]
IMF to disburse US$360m third tranche to Ghana without creditors MoU
Mr Abebe Aemro Selassie, Director, African Department, International Monetary Fund (IMF), says Ghana will receive its next funding support from the IMF even if it is unable to sign a final debt pact with its official bilateral creditors. This means that the country would receive its third tranche of US$360 million when the IMF Board […]
Ghana to adjust external bond deal to meet IMF debt sustainability goals – Finance Ministry
By: Franklin ASARE-DONKOH The Ministry of Finance says despite reaching an interim agreement with external bondholders, Ghana still needs to adjust the deal to meet the debt sustainability targets set by the International Monetary Fund (IMF). The Finance Ministry’s statement comes amid concerns from certain economic sectors that Ghana has not successfully reached an agreement […]
IMF reaches Staff-Level Agreement on 2nd review of extended credit facility with Ghana
By Racheal Asamoah The International Monetary Fund (IMF) has reached a staff-level agreement on the review of the extended credit facility with Ghana. In a statement released on Saturday, April 13, 2024, said, “Ghana will have access to about US$360 million in financing once the review is approved by IMF Management and formally completed by […]
Nana Akufo-Addo and IMF Boss Kristalina Georgieva set tone for engagements within Ghana’s Financial Sector
After an interaction with President Akufo-Addo, the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva is expected to meet with the Finance Minister, Dr. Mohammed Amin Adam and Bank of Ghana Governor, Dr. Ernest Addison alongside some representatives from some interest groups on the way forward for Ghana’s three-year US$ 3 billion extended […]
Government will continue IMF conditionalities despite change of Finance Minister – Akufo-Addo
By: Emmanuel Oti Acheampong President Akufo-Addo during his penultimate State of the Nation Address on February 27, 2024 reiterated government’s commitment in continuing the conditionalities given the country by the International Monetary Fund, IMF. On February 14, 2024, the President made some significant reshuffling in his ministers which saw the longest serving Finance Minister, Ken […]
I’ll not depart from ongoing IMF programme – Amin Adam
By: Franklin ASARE-DONKOH The newly appointed Ghana’s Finance Minister, Dr. Mohammed Amin Adam, says he will not deviate from economic policies his predecessor, Mr. Ken Ofori Atta, has put forth. Speaking in an interview hours after his appointment to replace Mr. Ofori Atta was announced, Dr. Adam who has been part and parcel of government’s […]
