IMF Approves Third Tranche Of 116 Million Dollars Under Ghana’s Three Year Programme

The Executive Board of the International Monetary fund has approved the third tranche of 116.2 million dollars under Ghana’s three year programme with the fund. It follows the final review of Ghana’s economic performance by the Board under the programme yesterday.

This brings the amount disbursed so far under the programme to 464.6 million dollars. The approval of the third tranche which was supposed to be approved in July had to delay because of some key requirements such as the passage of the Bank of Ghana Amendement Bill and Public Financial Management Bill.

The IMF in April 3, 2015 approved a three year programme for Ghana to help put the economy back on track. The latest approval of the third tranche comes barely three after rating Agency Moody’s B3 rating of the economy signaling stability from the earlier negative outlook.

According to the agency, the latest rating was driven by “Significant fiscal deficit reduction and institutional reform implementation over the past year under the umbrella of the 3-year IMF programme. Economic Analyst with Databank Courage Kingsley Martey tells Starr Business the latest development is a good news for Ghana.