IMF deal: Second tranche of US$600m officially hits BOG account

The Bank of Ghana has acknowledged receipt of US$600 million as the second tranche of Ghana’s bailout package with the International Monetary Fund (IMF)

The cash meant for budget support and stabilization of the local currency, was officially credited to the Central Bank’s account today, Tuesday, January 23, 2023.

This means, Ghana has received a total of US$ 1.2 billion out of the $3 billion approved under the three-year extended credit facility in May 2023.

According to the IMF, Ghana has performed well under the programme, with reforms bearing fruit and signs of economic stabilisation emerging.

Unlike the first tranche, which was meant to address Ghana’s balance of payment issues, the government says the second tranche will be used to finance certain projects and programmes in the 2024 budget.

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