{"id":312383,"date":"2024-01-19T22:51:06","date_gmt":"2024-01-19T22:51:06","guid":{"rendered":"https:\/\/www.gbcghanaonline.com\/?p=312383"},"modified":"2024-01-19T23:08:15","modified_gmt":"2024-01-19T23:08:15","slug":"imf-ghana-tranche","status":"publish","type":"post","link":"https:\/\/www.gbcghanaonline.com\/news\/business\/imf-ghana-tranche\/2024\/","title":{"rendered":"IMF approves second $600m for immediate disbursement to Ghana"},"content":{"rendered":"\n

By: Franklin ASARE-DONKOH<\/p>\n\n\n

The International Monetary Fund (IMF<\/a>) has approved the second tranche of US$600 million for Ghana.<\/h3>\n\n\n

The IMF Ghana Country Director announced this during a joint press conference held on Friday, January 19, 2024.<\/p>\n\n\n\n

\u201cThe Executive Board of the International Monetary Fund (IMF) completed today the First review of the $3 billion, 36-month Extended Credit Facility (ECF) Arrangement, which was approved by the Board on May 17, 2023, as well as the 2023 Article IV Consultation with Ghana. <\/p>\n\n\n\n

The completion of the first ECF review allows for an immediate disbursement of SDR 451.4 million (about US$600 million), bringing Ghana\u2019s total disbursements under the arrangement to about US$1.2 billion.\u201d<\/p>\n\n\n\n

This comes after Ghana struck a deal with its bilateral lenders, including China and France, late last week\u2014a key step that has unlocked the second disbursement.<\/p>\n\n\n\n

This approval means Ghana has successfully passed its first review under the Fund program after receiving the initial tranche in May last year.<\/p>\n\n\n\n

The government has indicated that this fresh funding will be utilised to support activities in the 2024 budget.<\/p>\n\n\n\n

Ghana has successfully secured a moratorium with its official creditors, postponing debt payments until May 2026.<\/p>\n\n\n\n

Reports suggest that the country expects to finalise an agreement with Eurobond investors to restructure a $13 billion debt by the end of March.<\/p>\n\n\n\n

Finance Minister Ken Ofori-Atta announced that payments for $5.4 billion in bilateral obligations would be made in two instalments over 16 and 17 years.<\/p>\n\n\n\n

More stories here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By: Franklin ASARE-DONKOH The International Monetary Fund (IMF) has approved the second tranche of US$600 million for Ghana. The IMF Ghana Country Director announced this during a joint press conference held on Friday, January 19, 2024. \u201cThe Executive Board of the International Monetary Fund (IMF) completed today the First review of the $3 billion, 36-month […]<\/p>\n","protected":false},"author":52,"featured_media":267512,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[24,25,15,2773],"tags":[3355,6373,14139,18606,20441],"class_list":["post-312383","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-news","category-politics","category-trending","tag-ghana","tag-imf","tag-international-monetary-fund","tag-ken-ofori-atta-2","tag-second-tranche"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.gbcghanaonline.com\/wp-content\/uploads\/2022\/12\/ken-ofori-atta-jpg.webp?fit=1034%2C572&ssl=1","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.gbcghanaonline.com\/wp-json\/wp\/v2\/posts\/312383","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gbcghanaonline.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gbcghanaonline.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gbcghanaonline.com\/wp-json\/wp\/v2\/users\/52"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gbcghanaonline.com\/wp-json\/wp\/v2\/comments?post=312383"}],"version-history":[{"count":3,"href":"https:\/\/www.gbcghanaonline.com\/wp-json\/wp\/v2\/posts\/312383\/revisions"}],"predecessor-version":[{"id":312391,"href":"https:\/\/www.gbcghanaonline.com\/wp-json\/wp\/v2\/posts\/312383\/revisions\/312391"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gbcghanaonline.com\/wp-json\/wp\/v2\/media\/267512"}],"wp:attachment":[{"href":"https:\/\/www.gbcghanaonline.com\/wp-json\/wp\/v2\/media?parent=312383"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gbcghanaonline.com\/wp-json\/wp\/v2\/categories?post=312383"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gbcghanaonline.com\/wp-json\/wp\/v2\/tags?post=312383"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}