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The government of Ghana has received US$360 million as the third tranche of its bailout package with the International Monetary Fund (IMF).
The funds, intended for budget support and stabilization of the local currency, were officially credited to the Central Bank’s account on Tuesday, July 2, 2024, following the IMF Executive Board’s approval of the second review on June 28, 2024.
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With this disbursement, Ghana has now received a total of US$1.56 billion out of the US$3 billion approved under the three-year extended credit facility.
The money will be used to support activities outlined in the 2024 budget. Additionally, another tranche of US$360 million is expected in the fourth quarter of 2024, contingent on the IMF Executive Board’s approval of the third review.
Furthermore, the World Bank is anticipated to disburse US$300 million in the third quarter of 2024, with additional funds from bilateral and financial institutions expected in the fourth quarter, including US$150 million from the World Bank GARID Project, US$200 million from the EBID facility for SME support, and up to US$1.5 billion from the 2024/2025 COCOBOD syndication.
