Ghana receives first $600m tranche of $3bn IMF loan


Ghana’s Finance Minister Ken Ofori-Atta said on Friday that the first $600 million tranche of a $3 billion, three-year extended credit facility has been received.

Reuters reports that the funds would be used for budget support and help bring down inflation, Ofori-Atta said on Twitter.

The International Monetary Fund’s executive board on Wednesday approved the $3 billion, three-year rescue loan, paving a potential path out of Ghana’s worst economic crisis in a generation.

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