An International Monetary Fund (IMF) staff team, led by , its Mission Chief for Ghana Stéphane Roudet, have reached a staff-level agreement on the first review of Ghana’s economic programme under the Extended Credit Facility arrangement.
The meetings in Accra started from September 25 to October 6, 2023, to discuss progress on reforms and the authorities’ policy priorities in the context of the first review of Ghana’s three-year programme.
“I’m very pleased to announce that the IMF staff and Ghanaian authorities have reached a staff-level agreement on the first review of Ghana’s economic program under the Extended Credit Facility arrangement”, Mr. Roudet said in a press statement.
He explained that the staff-level agreement is subject to IMF Management approval and Executive Board consideration once the necessary financing assurances have been received.
“An agreement with official creditors on a debt treatment in line with program parameters would provide the needed financing assurances”, he added.
Mr. Roudet pointed out that upon completion of the Executive Board review, Ghana would have access to SDR 451.4 million (about US$ 600 million), bringing the total IMF financial support disbursed under the arrangement, since May 2023, to SDR 902.8 million (about US$1,200 million).