The Executive Board of the International Monetary Funds (IMF) has approved the disbursement of some $116 million to Ghana.
This was after the board completed the third Extended Credit Facility review on Ghana in Washington DC today.
This will pave the way for some $116 million to be transferred to Bank of Ghana's account within the next 10 days.
The funds are expected to support the Ghana's balance of payment.
Sources say the approval was influenced by some undertaking by government that it will work to address concerns identified during the third review by the IMF staff.
Some of the issues include, the Amended Bank of Ghana Act, Government fiscal data for last year, restructuring of State Owed Organization's debts and dealing with some troubled banks in the country.
But a source close to government says the approval shows that it is on track with programs being implemented to stabilize the economy.
Have your say
More Business Headlines
- Ghana, Cote d'Ivoire resume sale of cocoa beans
- UBA unveils marketing platform for entrepreneurs
- BoG keeps policy rate at 16%
- Electric car models to triple in Europe by 2021
- Boeing to take $4.9bn hit in second quarter on 737 Max grounding
- Ghana's debt now GHS200 billion
- Gov’t urged to formulate new tax compliance rules for increased revenue
- Vodafone talks private sector relevance in SDGs at UN Forum
- Nelson Mandela Day: Barclays, ALU scholars pay courtesy call on SA High Commissioner
- Insurance industry could wield more money than banks – Rev Okosun
- Engage NIC to avoid casualties - CIIG
- Kingdom Exim Ghana, CEO awarded at Ghana Shippers Award 2019
- Enforce laws barring foreigners from retail trade - Majority Leader to agencies
- GTBank, Ria partner Zeepay to launch Ria2Mobile money transfer service
- AirtelTigo mentors 40 young aspiring entrepreneurs