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IMF Team in Ghana for second economic review and talks

Ghana is in the spotlight as the IMF team arrives for the second review of its $3 billion economic growth program post-COVID-19.

IMF staff arrive in Ghana for second review, third tranche talks

This review, starting on April 2, 2024, follows the successful completion of the first review in January.

The IMF staff are in Ghana to assess how well the country is meeting the program's goals over the next two weeks. They will focus on areas like economic recovery, fiscal management, and reforms.

The outcome of this review will be crucial for Ghana's economy and its ties with global financial institutions. The government is optimistic about passing this review and unlocking the third tranche of IMF funds worth $360 million by June.

This review is the second one since the program began and the first of two expected this year. The next review is set for November 2024.

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Despite facing challenges in debt restructuring with creditors, Ghana is making progress. The government aims to secure the third tranche of $360 million, adding to the $1.56 billion disbursed so far.

During their visit, the IMF team will meet with the President, government officials, the Central Bank, and civil society groups. The Finance Minister and the Bank of Ghana Governor have affirmed the government's commitment to the program.

The IMF mission will conclude on April 12, 2024, with the team returning to Washington DC. Their report will then be reviewed by the IMF Board for approval.

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