Ghana is expected to receive the first tranche of $600 million of the $3 billion International Monetary Fund (IMF) economic bailout within the week.
The IMF cash is expected to support the country’s balance of payment and help steer it out of its current economic mess.
The IMF executive board is expected to consider Ghana’s request for an IMF bailout when it reconvenes on Wednesday, May 17, 2023.
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Minister of State at the Finance Ministry, Mohammed Amin Adam, disclosed that the second tranche will also come in November or December after the first tranche hits the country’s coffers this week
“We expect a deal on Wednesday. With the disbursement, there is going to be $600 million as a first tranche just immediately after the approval,” Adam told Reuters.
The present development follows the massive support given to Ghana on Friday, May 12 by the Paris Club.