"IMF to Decide on $360 Million Disbursement for Ghana in December Review"

" IMF to Decide on $360 Million Disbursement for Ghana in December Review \r\n\r\nThe IMF Board is set to convene on December 2 to deliberate Ghana\u2019s Third Programme Review, a meeting that could trigger a critical $360 million disbursement to shore up the country\u2019s fiscal framework and balance of payments.\r\n\r\nFollowing a staff-level agreement reached earlier this month, this infusion would bring Ghana\u2019s cumulative IMF funding under the program to $1.92 billion.\r\n\r\nSpeaking at a press briefing in Washington during the IMF\/World Bank Annual Meetings, Finance Minister Dr. Mohammed Amin Adam underscored that the anticipated IMF tranche, alongside an additional $300 million from the World Bank, will augment the Bank of Ghana\u2019s reserves, supporting the cedi and reducing currency volatility as the nation heads into 2025.\r\n\r\nHe assured market participants of the central bank\u2019s fortified reserve position, emphasizing the bolstered liquidity to meet forex demand.\r\n\r\n\"This isn\u2019t just about the IMF funds,\" Dr. Amin Adam noted, \"but about the signal to investors that Ghana is executing the necessary reforms to stabilize and grow the economy.\"\r\n\r\nRecent investor meetings in Washington, he said, highlighted growing confidence in Ghana\u2019s economic trajectory, with some investors eyeing re-entry into the domestic bond market\u2014a potential turnaround after a period of uncertainty.\r\n\r\nAddressing skepticism over the government\u2019s economic stewardship in recent years, Dr. Amin Adam highlighted key achievements, citing substantial gains in growth, exchange rate stability, and inflation.\r\n\r\nMeanwhile, the IMF has revised its growth forecast for Ghana in 2024 to 4% from the prior 3.1%, a target the Finance Minister believes could be exceeded as recent investments begin to generate returns.\r\n\r\nDespite this upward revision, Ghana will maintain a conservative 3% growth estimate in its official budget to balance expectations against fiscal prudence."

"IMF to Decide on $360 Million Disbursement for Ghana in December Review"

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