IMF and Ghana reach staff-level agreement for first review of $3 billion loan
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The International Monetary Fund and the government of Ghana have reached a staff-level agreement on the first review of the $3 billion loan facility, Reuters has reported.
According to Reuters’ Africa Senior Markets Correspondent, Rachel Savage, the development paves way for a disbursement of a second tranche of $600 million loan facility pending executive board approval from the IMF.
To get the money, Ghana needs to reach a debt deal with its official creditors, she wrote via the X platform, formerly Twitter.
“To ensure timely completion of the review, the country needs official creditors to quickly reach agreement on a debt treatment in line with the financing assurances they provided in May 2023,” Rachel Savage further quoted.
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Meanwhile, Stephane Roudet, IMF Mission Chief for Ghana speaking at a joint press conference between the Fund and the Finance Ministry said, “Ghana will have access to about US$600 million in financing once the review is approved by IMF Management and formally completed by the IMF Executive Board.”
The International Monetary Fund and the government of Ghana have reached a staff-level agreement on the first review of the $3 billion loan facility, Reuters has reported.
According to Reuters’ Africa Senior Markets Correspondent, Rachel Savage, the development paves way for a disbursement of a second tranche of $600 million loan facility pending executive board approval from the IMF.
To get the money, Ghana needs to reach a debt deal with its official creditors, she wrote via the X platform, formerly Twitter.
“To ensure timely completion of the review, the country needs official creditors to quickly reach agreement on a debt treatment in line with the financing assurances they provided in May 2023,” Rachel Savage further quoted.
Meanwhile, Stephane Roudet, IMF Mission Chief for Ghana speaking at a joint press conference between the Fund and the Finance Ministry said, “Ghana will have access to about US$600 million in financing once the review is approved by IMF Management and formally completed by the IMF Executive Board.”
By: www.ghanaweb.com
