IMF:$360m third tranche hits BOG’s account
The government of Ghana has received $360 million as the third tranche of the country's bailout package from the International Monetary Fund (IMF).
This amount, intended for budget support and stabilization of the local currency, was officially credited to the Central Bank's account on Tuesday, July 2, 2024.
This disbursement follows the IMF Executive Board's approval of the second review on Friday, June 28, 2024.
With this latest instalment, Ghana has received a total of $1.56 billion out of the $3 billion approved under the three-year extended credit facility.
According to the Ministry, the funds will be used to support activities outlined in the 2024 budget.
The fourth tranche of $360 million is anticipated in the fourth quarter of 2024, contingent on the IMF Executive Board's approval of the third review.
Source: Classfmonline.com/Cecil Mensah
Trending Business
Inflation rises to 22.1% in October, casting doubt on 15% year-end target
13:09IEA criticises BoG’s gold coin plan, calls for fundamental economic reforms
08:18MIIF invests $2m in Kambale Graphite Project
13:15MTN Ghana bags ₵12.7bn service revenue despite economic headwinds
11:52MTN CEO appointed to GSMA Board
11:44CPC records $13.08m Q3 loss
11:35Newmont declares $0.25 per-share Q3 dividend
11:20Ghana cedi continues wobbly streak as a dollar equals ₵17.10
11:11Cocoa farmers hoard beans in anticipation of price hike
08:27Sunon Asogli denies receiving promised $30 million from Finance Ministry amid ongoing power plant shutdown
13:47