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IMF SET TO RELEASE $236M TO GHANA IN MAY

The IMF is likely to release an amount of two hundred and thirty-six million dollars ($236,000,000) to Ghana under the agreement with the Fund, by the first week of May this year.

This comes on the heels of the IMF mission’s review of Ghana’s performance, last month (March).

The facility will be the 5th and 6th disbursements under the economic support program.

Officials say, this forms part of the highlights at this year’s spring meetings of the IMF/World Bank in Washington, DC.

Under the programme, Ghana had to shove down its throat some bitter pills so as to maintain tight fiscal discipline, without sacrificing growth.

The bail out programme has been extended to April 2019 , from an initial deadline of April 2018, after the NPP government agreed to an extension of the program.

The fund is giving the country over $918 million to support its current account which is necessary for stabilising the local currency and control the shocks in the economy.

                                                                                                                                                                                                     source:www.peacefmonline.com

                                                                                                                                                                                                      date:24th April 2018


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