Ghana to Receive US$918m from IMF

Minister for Finance and Economic Planning, Mr Seth Terkper, has announced that Ghana is expected to receive a total of $918 million within three years from the IMF to help support the country's economy.

Mr. Seth Terkper made this known on the floor of Parliament yesterday, when he presented the mid - year review budget and supplementary estimates for the 2015 financial year. He said the amount, which is the first trench, was expected to be disbursed in eight equal installments, adding that the second tranche would be released soon.

Mr. Tekper told Parliament that, “Ghana received an amount of US$114.75 million immediately after the Board’s approval" as part of the "first tranche of the total amount of US$918 million expected to be disbursed in eight equal installments over the 3-year period as balance of payments support.” He noted that the remaining seven (7) disbursements would be made after the observance of the performance criteria and completion of reviews under the Programme. “Following the anticipated approval by its Board, we expect the release of the second tranche by the IMF soon,” he said.