The government has received US$360 million as the third tranche of Ghana’s bailout package from the International Monetary Fund (IMF).
The funds for budget support and local currency stabilization were formally credited to the Central Bank’s account today, Tuesday, July 2, 2024.
It follows the Executive Board’s approval of the second review on Friday, June 28, 2024.
This implies Ghana has received a total of US$ 1.56 billion out of the $3 billion granted for the three-year extended loan facility.
According to Citi News, the funds will be utilized to support operations in the 2024 budget.
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The fourth tranche of US$360 million is due in the fourth quarter of 2024, when the IMF Executive Board authorizes the third review.
The World Bank funds of US$300 million are expected in the third quarter of 2024; and disbursements from bilateral institutions/financial institutions, including the World Bank GARID Project of US$ 150 million and the EBID facility of US$ 200 million for SME assistance, and estimated revenues from 2024/2025 COCOBOD syndication of up to US$1.5 billion is expected in the fourth quarter of 2024.
