The International Monetary Fund has approved more funding to support the country’s development. The 119 million dollars was approved by the IMF Wednesday under the extended credit facility. Originally known as the Poverty Reduction and Growth Facility, Ghana would be getting 602 million dollars over three years. The latest disbursement brings to 218 million dollars, what has so far been given to the country under the facility. The disbursement follows two reviews of the country’s economic performance for last year. The IMF in its statement says its board waived some conditions in the country’s favour in approving the disbursement. The board is however stressing tight controls over spending, including public administration costs, and a strengthening of revenue mobilization. It also acknowledged the recent utility tariff hikes and efforts by government to ensure that consumers pay realistic tariffs, an indication government is unlikely to reverse the tariff hikes. Source: Joy Business/Myjoyonline.com/Ghana