Dr.
Mohammed Amin Adam, the Minister of Finance, has announced that Ghana is on track to meet the targets set for the third review of the International Monetary Fund (IMF) programme.
The IMF executive board is expected to consider the review for approval by the end of December 2024.
Speaking at a press conference on Thursday, August 29, 2024, Dr.
Amin Adam noted that approval of the third review by the IMF will lead to the immediate disbursement of the fourth tranche of funding. "Preliminary data for the first half of 2024 indicates that we are on course, we are on track to meeting the target for the third review.
It is expected that the IMF executive board will consider Ghana's third review for approval by the end of December 2024 which will enable the board to immediately disburse the fourth tranche of $360 million, bringing the total disbursement to $1.9 billion," he stated.
He continued: "Ladies and gentlemen, as you are aware, the government is in a $900 million development operation programme with the World Bank for a period of three years;2023-2025. "This is to support the budget and the implementation of key reforms aimed at restoring fiscal and debt sustainability.
Supporting financial sector stability as well as private sector development to improve the energy sector and also its financial performance as well as fostering resilience to shocks and climate change."