IMF Board set to approve Ghana's final Programme Review, greenlight post-bailout economic plan
The International Monetary Fund (IMF) Board is expected to meet today to consider and approve Ghana's sixth and final review under the Extended Credit Facility (ECF) programme. Approval of the review will unlock a final disbursement of about US$318 million for Ghana. The Board is also expected to consider and approve Ghana's request for a 36-month Policy Coordination Instrument (PCI), a non-financing arrangement that will guide the country's economic reforms after the conclusion of the IMF bailout programme.
Today's meeting follows the staff-level agreement reached between Ghana and the IMF in April after the Fund's mission to Accra. Government has since met key quantitative and structural targets required for Board approval, including decisions on the recapitalisation and governance reforms of UMB Bank and Prudential Bank. IMF Mission Chief for Ghana, Dr Ruben Atoyan, stated that once the Board approves the review, the final tranche of more than US$318 million would be released.
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The IMF Executive Board is set to meet today to discuss Ghana's final review under the Extended Credit Facility programme. This crucial meeting
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