IMF board to disburse $360m to Ghana in December after third review

The International Monetary Fund (IMF) is set to approve the disbursement of US$360 million to Ghana in early December following the country's successful completion of the third review under its fund program.

This disbursement will bring Ghana's total funding under the IMF program to $1.92 billion.

IMF Director of Communications, Julie Kozack, noted Ghana's strong performance, particularly in debt restructuring, and said key macroeconomic targets, including economic growth, inflation reduction, and fiscal improvements, were met.

However, she cautioned that continued policy implementation is crucial to avoid future slippages and ensure long-term macroeconomic stability. The IMF staff also highlighted higher-than-expected growth driven by sectors like mining and construction in the first half of 2024.