IMF raises approval.hopes for Ghana’s $3bn loan request


The International Monetary Fund said on Thursday it had seen “good progress” in delivering bilateral financing assurances to Ghana that are needed for the IMF executive board to consider a three-year, $3 billion loan programme for the west African country.

IMF spokesperson Julie Kozack told a news briefing that the Fund is hopeful that the IMF executive board can quickly consider the Ghana programme once enough official bilateral creditor assurances have been secured. The package was agreed at the staff level in December.

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“We have seen strong progress toward creditors delivering on these financing assurances and we’re hopeful that they can be delivered very rapidly,” Kozack said.

Last month, Ghana’s finance minister, Ken Ofori-Atta said during a presentation that he expects IMF board approval for the loan in May.