Finance Minister, Ken Ofori Atta has confirmed that the country will end their partnership with the International Monetary Fund(IMF) by the close of the year.
“We are on course to completing the project. We have already completed 6 reviews so far, leaving us with 2 more to go” he told Parliament when he presented the 2018 Mid-year budget on the floor of the House.
The Executive Board of the International Monetary Fund (IMF) in April 2015 approved a three-year arrangement under the Extended Credit Facility (ECF) for Ghana in an amount equivalent to SDR 664.20 million (180 percent of quota or about US$918 million) in support of the authorities’ medium-term economic reform program.
The program aims to restore debt sustainability and macroeconomic stability to foster a return to high growth and job creation, while protecting social spending. The Executive Board’s decision will enable an immediate disbursement of SDR 83.025 million (about US$114.8 million).
More to follow…