IMF staff in Ghana for second review and third tranche deliberations

Staff of the International Monetary Fund (IMF), have landed in Ghana to conduct the second review of the three-year $3 billion IMF-backed Programme for Economic Growth (PC-PEG) post-COVID-19.

Commencing on Tuesday, April 2, 2024, this evaluation comes after the successful completion of the initial review in January.

A team from the IMF arrived in Ghana over the weekend to initiate the assessment of the nation’s progress in meeting the programme’s objectives. This assessment is scheduled to last for the next two weeks.

During this period, Ghana’s adherence to the programme’s targets will be closely scrutinized, focusing on areas such as economic recovery, fiscal management, and structural reforms.

The outcome of this review carries significant implications for Ghana’s economic path and its relationship with international financial institutions.

The government is optimistic about passing this IMF programme review, aiming to meet all structural benchmarks to access the third tranche of IMF funding totaling $360 million by the end of June.

This assessment marks the second review of the IMF programme since its inception, and it is the first of the two reviews expected this year.

The subsequent review for 2024 is scheduled for November.