Finance Minister-designate, Dr Mohammed Amin Adam, has noted that the approval of the 2nd Review by the IMF Executive Board, expected in June 2024, would lead to the release of the third tranche of US$360 million.
Ghana received $600 million from the Fund in the first and second tranches respectively. This would bring the total disbursements under the programme to US$1.56 billion.
According to him, the next two reviews of Ghana’s US$3bn International Monetary Fund (IMF)-supported Post Covid-19 Programme for Economic Growth (PC-PEG) will take place in the second and fourth quarters of the year.
“The 3rd Review has been programmed for November 2024,” he added.
While engaging the press today, the minister-designate reported substantial strides in meeting the objectives set out IMF programme.
“The Ministry of Finance is working with the BoG in preparation for the IMF 2nd Review Mission. Preliminary assessment undertaken by MoF and BoG shows that we are on course to meet most of the targets under the Programme.”
This comes after the successful completion of the first review of the IMF programme on January 19, 2024.
“During the 2nd Review, the IMF mission will engage the authorities in technical and policy discussions to enable them to assess Ghana’s performance on programme objectives, the 6 Quantitative Performance Criteria (QPCs), the 3 Indicative Targets (ITs), 1 Monetary Policy Consultation Clause (MPCC), and the Structural Benchmarks (SBs) with respect to end Dec 2023 targets. They will also review performance towards upcoming QPCs, ITs, and SBs,” he added.
