UMB’s Overview of Ghana’s Extended Credit Facility with the International Monetary Fund.

As part of Ghana’s economic recovery process, the Government of Ghana sought the assistance of the International Monetary Fund (IMF) on September 26, 2022, for a 36-month Extended Credit Facility Program worth USD 3 billion. Following extensive stakeholder engagements, the IMF board approved the disbursement of the first tranche amounting to USD 600 million on May 17, 2023.

In line with the Agreement, the IMF has outlined key measures and objectives to guide policy directives aimed at revitalizing the Ghanaian economy and steering it toward a growth trajectory.

Our Overview provides highlights of the key elements and benefits of this Agreement. It also outlines the strategies, policies, and reforms that the Ghanaian government, in collaboration with the Fund, is committed to implementing.

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