The International Monetary Fund and Ghana’s government have reached a staff-level agreement on a fourth review of its $3 billion loan programme, unlocking another $370 million on completion by the Fund’s Executive Board.
The gold, oil, and cocoa-producing nation is recovering from its most severe economic crisis in decades, with its cocoa and gold industries facing challenges.
The IMF said in a statement on Tuesday that Ghana’s overall performance under the programme had deteriorated markedly at the end of 2024. However, authorities had since taken measures to address policy and reform slippages, it added.
“Discussions with the authorities centred on possible additional measures needed to address structural weaknesses in the public financial management,” the statement said.
Source: CNBC Africa