Kristalina Georgieva, the head of the IMF, travels to Ghana for the first time.
The visit follows Ghana’s receipt of US$600 million as the second tranche for currency stabilization and budget support, bringing the total amount disbursed under the extended credit facility, agreed in May 2022, to US$1.2 billion.
The IMF commended Ghana’s program-related progress, pointing out the effectiveness of the changes and the appearance of indications of economic stability.
The nation’s strong performance, which satisfies all quantitative performance standards as well as almost all indicative targets and structural benchmarks, highlights how well programs are implemented.
During a news conference in Washington, DC, Abebe Selassie emphasized Ghana’s successful program implementation and indicated that the IMF will continue to assist Ghana’s policy actions aimed at resolving past economic imbalances.
The third tranche, worth about US$360 million, is anticipated to be unlocked at the next program review, which the IMF expects to take place in June 2024.
The visit marks an important turning point in Ghana’s and the IMF’s economic cooperation and demonstrates their shared commitment to stability and sustained economic growth.
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