The International Monetary Fund (IMF) is set to convene its executive board to approve the third tranche of the $3 billion contract for Ghana by the end of June 2024, according to mission chief Stephane Roudet. Apexnewsgh reports
The country, which has secured funding guarantees from holders of its Eurobonds, is now seeking to sign a memorandum of understanding (MoU) with its official creditors to access the next round of financing support.
Roudet expressed optimism that the approval will be granted in time for the board meeting to complete the second review of the programme before the deadline. The IMF is demanding an agreement between the official creditor committee and the Government of Ghana before providing the funding.
The Finance Ministry recently announced a provisional arrangement with bondholders, paving the way for the MoU to be signed and the subsequent tranche to be released. The IMF has reiterated its commitment to supporting Ghana’s economic recovery efforts and is confident that the financing assurance provided by the country will enable the next review and disbursement.
Abebe Aamro Selassie, head of the Africa Department at the IMF, emphasized that reaching an agreement with Eurobond holders is crucial for the process but should not hinder the provision of additional financing.
The IMF remains dedicated to helping Ghana implement its economic plan and get back on track.
Source: Apexnewsgh.com
Please contact Apexnewsgh.com on email apexnewsgh@gmail.com for your credible news publications. Contact: 0256336062
