Finance Minister, Ken Ofori-Atta, has revealed that the government is expected to receive about $6.2 billion from its multilateral partners between 2023 and 2026.
Addressing the media, Mr.Ofori-Atta said the government has come up with Ghana’s Post-Covid-19 Programme for Economic Growth (PC-PEG) which is backed by the International Monetary Fund and covers all the needed reforms to ensure economic growth.
According to him, the Ghana Post-Covid-19 Programme is built on clear targets and strong policy and structural measures.
He pointed out that the government is committed to following through with the reforms and expects a total of $2 billion from multilateral partners by the end of 2023.
“Our commitment to these reforms is matched by our relentless pursuit of innovation and strengthened partnerships. Backed by the renewed drive for reforms, the government is working towards securing significant support from our multilateral partners”.
“Altogether, and including the IMF funds, World Bank and AfDB support, we expect multilateral support of about $2.0 billion for 2023 and $6.2 billion between 2023 and 2026. We expect the World Bank to provide a total support of $1.6 billion, whilst the AfDB provides a total support of $200 million over the programme period”, he said.
“In addition, we expect to mobilize catalytic funding of $30 million in 2023 and $330 million between 2023 and 2026 from bilateral creditors”, he added.
Furthermore, Mr. Ofori Atta said the country is collaborating with other development partners to finance the Ghana Financial Stability Fund to provide liquidity and solvency support the financial sector.
“We are also collaborating with other development partners including the World Bank and the AfDB to finance the Ghana Financial Stability Fund to provide liquidity and solvency support for the financial sector as a result of the assessed impact of the DDEP”.