The first tranche of $600 million of the $3 billion International Monetary Fund (IMF) economic bailout for Ghana is expected to hit the country’s coffers this week.
The IMF cash is expected to support the country’s balance of payment and help steer it out of its current economic mess.
The IMF’s executive board is expected to consider Ghana’s request for the IMF cash when it reconvenes on Wednesday, May 17, 2023.
According to a Minister of State at the Finance Ministry, Mohammed Amin Adam after the first tranche hits the country’s coffers this week the second tranche will also come in November or December.
“We expect a deal on Wednesday. With the disbursement, there is going to be $600 million as a first tranche just immediately after the approval,” Adam told Reuters.
He said the rest of the money will be disbursed in equal tranches of $360 million after semi-annual reviews.
