The Monetary Policy Committee (MPC) of the Bank of Ghana has said that the third review assessment of the International Monetary Rund (IMF) on the economy and on programme implementation reflected a positive assessment and led to a Staff-level Agreement.

The committee said that indications are that the IMF Board will meet in December to assess programme implementation thus far and assess forward-looking prospects of the economy. "Sussessful completion of the assessment will likely trigger the release of an additional US$360 million in December 2024.

This should provide more impetus to stability," the committee said in a press statement issued after the 121st MPC sitting on Friday, November 29.

It further explained that while global economic conditions remain favourable, the strength of the US economy coupled with a strong United States dollar and the possibility of a resurgence in global energy and food prices arising from trade protectionism, geopolitical conflicts, and extreme weather conditions will have to be monitored closely for policy responses to ensure stability in the economy.