By Franklin ASARE-DONKOH
The government of Ghana is said to have received an amount of US$360 million as the third tranche of Ghana’s bailout package with the International Monetary Fund (IMF).
The $360m was officially credited to Ghana’s Central Bank’s (BoG) account today, Tuesday, July 2, 2024, and is meant for budgetary support and stabilization of the local currency which has been depreciating at an alarming rate.
The release of the third tranche of $360m follows the Executive Board’s approval of the second review on Friday, June 28, 2024.
This means, Ghana has received a total of US$ 1.56 billion out of the $3 billion approved under the three-year extended credit facility.
The fourth tranche of another US$360 million is expected in quarter four of 2024 after the IMF Executive Board approves the third review.
The World Bank funds of US$300 million are also expected in quarter three of 2024, and disbursements from bilateral institutions/financial institutions including the World Bank GARID Project of US$ 150 million and EBID facility of US$ 200 million for SME support, and anticipated proceeds from 2024/2025 COCOBOD syndication of up to US$1.5 billion are expected in quarter four of 2024.
