The second tranche of the 600 million dollars IMF bailout package has hit the Bank of Ghana’s (BoG) account. The funds meant for budget support and stabilization of the local currency, were officially credited to the Central Bank’s account on Tuesday, January 23.
This means Ghana has received a total of one-point-two billion dollars out of the 3 billion dollars approved under the three-year extended credit facility in May last year. Reports say unlike the first tranche which was meant to address Ghana’s balance of payment issues, all of the second tranche will be used to finance projects and programmes in the 2024 budget.
The IMF last Friday, approved the second tranche after Ghana struck a deal with its bilateral Creditors including China and France, a key step that triggered the second disbursement.
Barring any hitches, Ghana’s next IMF programme review will take place in six months for the third tranche of 720 million dollars.
Source: Citinews
