IMF bailout: Board to consider 3rd review for approval by December – Amin Adam

Dr Mohammed Amin Adam has disclosed that the International Monetary Fund (IMF) Executive Board will consider Ghana’s third review for approval by the end of December this year.

He said this would enable the Board to immediately disburse the fourth tranche of $ 360 million bringing the total disbursements to $1.92 billion.

Dr Adam said this during the Monthly Economic Update in Accra on Thursday.

“Preliminary data for the 1st half of 2024 indicates that we are on track to meeting the targets for the 3rd Review. It is expected that the IMF Executive Board will consider Ghana’s 3rd Review for approval by end Dec 2024, which will enable the Board to immediately disburse the 4th Tranche of US$360mn bringing the total disbursements to US$1.92 billion,” he stated.

Dr Adam said that the government was currently preparing for the third review of the IMF-supported Programme after successfully concluding the second review of the programme on 28th June 2024 with strong endorsement of Ghana’s programme by all the IMF Executive Directors.

“For the third review, the IMF has programmed a staff mission for the period 24th Sept to 4th Oct 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 further noted.