Ghana's IMF Program Likely To Free Up Other Lending

The head of the International Monetary Fund said on Saturday that a new IMF support program for Ghana would likely unlock lending from other bilateral institutions.

"It clearly will have a catalytic effect," IMF Managing Director Christine Lagarde told a news conference at the conclusion of a meeting of the IMF's steering committee.

"When a country has signed a program ... it generally always triggers on the part of other bilateral institutions, of other bilateral lenders, financing that sometimes had been frozen or locked."

Earlier this month, the Fund approved a three-year $918 million financial assistance deal for Ghana aimed at restoring economic stability and boosting job growth.

Source: Reuters