According to information learned from reliable sources, the International Monetary Fund (IMF) has approved a $3 billion loan to Ghana. The International Monetary Fund’s Executive Board overwhelmingly adopted Ghana’s program for the next three years during a meeting held today (May 17, 2023) in Washington. A news announcement confirming the information, according to insiders in the graphic design business in Washington, is expected to be issued within the next several hours.
As for Ghana’s request for an ECF Arrangement, the IMF’s Executive Board will be meeting on Thursday [May 18], and the organization has indicated that it will hold a virtual news conference on that day to brief reporters on the developments. Among those expected to speak at the press conference are Tatiana Mossot, the IMF’s Senior Communications Officer; Ernest Addison, the Governor of the Bank of Ghana; Ken Ofori-Atta, Ghana’s Minister of Finance; and Stephane Roudet, the IMF’s Mission Chief for Ghana. The news conference has been eagerly anticipated, as it would perhaps shed light on the deliberations and final choices made by the IMF Executive Board regarding Ghana’s request for an Extended Credit Facility Arrangement.
Journalists and other interested parties will be able to ask questions of the panelists and learn more about the IMF’s view on the economic situation in Ghana and the proposed aid thanks to the virtual format, which will be held via Zoom.
READ: Ethiopia and Kenya are Sub-Sahara’s next largest economies after Nigeria and South Africa – IMF The Extended Credit Facility Arrangement may have a significant impact on Ghana’s financial stability and economic growth prospects, and the country’s Minister of Finance, Ken Ofori-Atta, and Governor Ernest Addison will likely discuss this topic. The Chief of the IMF Mission in Ghana, Stephane Roudet, will outline the terms of the Extended Credit Facility Arrangement and provide an expert assessment of Ghana’s economic performance.
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