IMF begins second-review of Ghana’s $3bn bailout programme
The IMF is set to commence its second review of Ghana’s three-year $3 billion Fund-supported post-COVID-19 Programme for Economic Growth (PC-PEG).
The second review per reports commences today, Tuesday, April 2, 2024, and is expected to span the next two weeks.
The mission staff from the IMF arrived in the country over the weekend to commence the assessment of Ghana’s performance against the programme’s objectives.
During this period, Ghana’s adherence to the prescribed programme objectives will be scrutinized closely, with a focus on areas such as economic recovery, fiscal management, and structural reforms.
The outcome of this review will have significant implications for Ghana’s economic trajectory and its relationship with international financial institutions.
Already, the government has expressed confidence in passing this review of the IMF programme, as it is hopeful of meeting all structural targets to unlock the third tranche of IMF cash of $360 million by the end of June.
The IMF team will consider the qualitative and quantitative targets after the second tranche facility was released to the country for budgetary support.
The IMF mission staff will end on Friday, April 12, 2024, after which they will return to Washington DC with their status report subject to the approval of the IMF Board.
The next review for 2024 is scheduled for November.
