Ghana on course to receive second tranche of IMF bailout – Ken Ofori-Atta

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Wed, 6 Sep 2023 Source: www.ghanaweb.com

Finance Minister, Ken Ofori-Atta has said government is working assiduously to receive the second tranche disbursement of the IMF bailout after a review takes place in November this year.

According to him, government is working within all conditions set by the Fund to ensure that the Central Bank can receive the disbursement to support balance of payments (BoP) issues for 2023 and 2024 to restore macroeconomic stability.

Speaking at the 3rd CEO's Breakfast Meeting organised by the Ghana Investment Promotion Centre, the Finance Minister said, “There are lot of conditions to be met which include quantitative performance indicators, six indicative targets and about three structural benchmarks.

“I think that we have got a long way to be ready for the mission that comes at the end of September so that we can reach a Staff Level Agreement while the IMF Mission team is here and then go to the Board in November [2023] for the release of the second tranche disbursement of $600 million for Ghana,” he disclosed.

The Finance Minister added that there are certain conditions to be met with the World Bank in order for the country to achieve a Development Policy Operation (DPO) of another $300 million.

“I believe that we are on course to maybe get $1 billion by year-end to support the Bank of Ghana’s Balance of Payment issues for 2023 and 2024,” Ken Ofori-Atta added.

The Finance Minister said government will continue to adopt stringent measures aimed at raking in the needed the revenue as part of efforts to restore macroeconomic stability.

The third edition of the GIPC CEO's Breakfast Meeting, which is held periodically, aims to bring together CEOs and business moguls, as well as government authorities, to deliberate on pertinent issues affecting business and investments in Ghana.


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Source: www.ghanaweb.com
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