The Executive Board of the IMF on Wednesday (May 17th) approved a $3 billion Extended Credit Facility (ECF) arrangement for Ghana, according to a statement released by the institution on Wednesday. financial, on its website.
This decision will allow Accra to receive an immediate disbursement of 600 million dollars.
The ECF arrangement will support an economic program by the authorities, which builds on the country’s post-pandemic program to boost economic growth.
This post-pandemic program aims to restore macroeconomic stability and debt sustainability by implementing far-reaching reforms that build resilience and lay the foundations for stronger and more inclusive growth.
Key policies in the authorities’ program include, inter alia, early and far-reaching fiscal consolidation to put public finances back on a sustainable path, complemented by measures to protect the vulnerable.
The IMF urges Ghana to enter into timely debt restructuring agreements with external creditors to successfully implement the new ECF arrangement.
By OMA Newsletter N° 1177 of 05/18/2023
Article published under the direction of Dr. Najib Kettani
The OMA, NGO with an Intercontinental vocation
For the development of cultural exchanges
Valuing human potential
The promotion and consolidation of Africa’s development, and
Inter-African integration
