The International Monetary Fund approved Ghana’s request for a bailout programme to help stabilize the country’s economy in the first week of April. Ghana is expected to get 918 million dollars spread over three years following the board's approval.
Ghana has received the first tranche of $114 million which the Finance Minister said would be used to shore up the country’s declining reserves.
The latest statement by the IMF Executive Director for Ghana says the second tranche of 144 million dollars would be available in July this year.
The report also made mentioning of an impending rationalization in 2017.
"It will be underpinned by strengthened fiscal consolidation efforts that hinge on prudent public expenditure management, enhanced domestic revenue mobilization, public sector reforms, with particular emphasis on staff rationalization in the public service and better controlling the wage bill.
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