Finance Minister, Dr. Mohammed Amin Adam, has announced that Ghana’s third review for the approval of the fourth tranche of the IMF loan is expected to be completed by the end of December 2024.
He stated that this review would pave the way for the IMF Board to promptly disburse the fourth tranche of $360 million, bringing the total disbursements to $1.92 billion.
Speaking during the Finance Ministry’s monthly economic update in Accra on August 29, 2024, Dr. Adam highlighted that preliminary data for the first half of 2024 shows that Ghana is on track to meet the targets for the third review.
He emphasized that the IMF Executive Board is anticipated to consider the review by the end of December, enabling the immediate disbursement of the funds.
He also mentioned that the government successfully concluded the second review of the program on June 28, 2024, receiving strong endorsement from all IMF Executive Directors.
“For the third review, the IMF has programmed a staff mission for the period September 24 to October 4, 2024, to, among others assess the performance of the country in relation to the performance targets agreed with the Fund under the programme.
“The review will assess the Six (6) Quantitative Performance Criteria (QPCs), Four (4) Indicative Targets (ITs), and a number of Structural Benchmarks (SBs) due by the end of June 2024 and those due before the Board date for the 3rd Review,” he added.