The Board of the International Monetary Fund (IMF) is expected to complete the second performance review of Ghana’s three-year programme next month.
This is after the IMF mission in Ghana gave the country thumbs up for the implementation of the programme so far and for meeting most of the August 2015 performance criteria.
[contextly_sidebar id=”3UmWMZnJo46Qg0ts2g1yzMvXxEPKZ4oO”]Government says the programme will give Ghana policy credibility following the economic crisis.
The Finance Minister Seth Terkper, presenting his budget statement last Friday, said there is growing confidence in the economy because of the IMF programme.
“Ghana is also leading its contemporaries in using a guarantee instrument that the World Bank plans to use to create an asset class for market access by middle income countries. Against this background, Ghana successfully went through the first performance review in August 2015 under the three-year extended credit facility with the IMF. All performance criteria under the programme for the second review were successfully met and documentations are being prepared by the IMF board to complete the review in December 2015. Hence, Ghana continues to win the confidence of the domestic business community, development partners and of the international financial markets”.
The IMF in April 2015 approved an Extended Credit Facility for Ghana worth about $918 million.
The three-year arrangement is in support of the country’s medium-term economic reform programme.
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Ebenezer Afanyi Dadzie/citifmonline.com/Ghana