We are optimistic that the IMF will approve our second review - Finance Minister

Dr. Amin Adam expressed confidence that the International Monetary Fund (IMF) will approve the third tranche funding support of $360 million for the country after its review.

He attributes his optimism to the government's achievement of a significant milestone in its debt restructuring journey with bilateral creditors.

Ghana has met all necessary requirements for the Fund to approve the third tranche funding, according to Dr. Amin Adam.

He anticipates no barriers in the coming days.

"We are very confident they will approve our second review because we have met all the requirements. The last hurdle was the agreement. We needed to meet with the bilateral creditors which we have now met. We do not anticipate any challenges," the finance minister said in a report on myjoyonline.com.

The country's second review programme for a third tranche funding of $360 million is expected to be presented before the Executive Board of the IMF by the close of June 2024.

The meeting will decide the approval and disbursement of additional funds under the country's Extended Credit Facility (ECF) programme with the IMF for economic recovery and stability.

The government has reached an agreement on a Memorandum of Understanding (MoU) with its Official Creditor Committee.

The agreement on the MoU will pave the way for the IMF to review Ghana's performance under a 3-year economic support programme.

EAN/OGB

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