IMF:$360m third tranche hits BOG’s account

The government of Ghana has received $360 million as the third tranche of the country’s bailout package from the International Monetary Fund (IMF).

This amount, intended for budget support and stabilization of the local currency, was officially credited to the Central Bank’s account on Tuesday, July 2, 2024.

This disbursement follows the IMF Executive Board’s approval of the second review on Friday, June 28, 2024.

With this latest instalment, Ghana has received a total of $1.56 billion out of the $3 billion approved under the three-year extended credit facility.

According to the Ministry, the funds will be used to support activities outlined in the 2024 budget.

The fourth tranche of $360 million is anticipated in the fourth quarter of 2024, contingent on the IMF Executive Board’s approval of the third review.