• About
  • Advertise
  • Privacy Policy
  • Contact
Thursday, October 16, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

IMF Schedules September 25 for First Review of Ghana’s IMF Programme

M.Cby M.C
September 7, 2023
Reading Time: 3 mins read
M.Cby M.C
in Economy
0
IMF Schedules September 25 for First Review of Ghana’s IMF Programme

Mr Ken Ofori-Atta, the Finance Minister has announced that the International Monetary Fund (IMF) Staff Mission will commence Ghana’s first review of the ongoing US$3 billion loan-support programme from 25th September, 2023. 

Mr Ofori-Atta stated that the review is crucial for the release of the second tranche of $600 million of the $3bn loan to the government for its Post COVID-19 Programme for Economic Growth (PC-PEG). “The Fund will be here from September 25 through to the beginning of October 2023,” the Minister said, adding, “Hopefully, we’ll get the staff agreement and go to the Board in November of this year [2023].” 

The PC-PEG is aimed at restoring macroeconomic stability and debt sustainability and laying the foundation for stronger and more inclusive growth amidst an economic crisis induced by the COVID-19 pandemic, the Russia-Ukraine war, and internal structural challenges. 

RelatedPosts

Debt Discipline Paying Off? IMF Projects Ghana’s Debt-to-GDP Ratio to Hit 59% by End of 2025

Global Public Debt to exceed 100% of GDP by 2029, build buffers – IMF Warns

A Brewing Debt Storm Threatens Ghana’s Recent Economic Gains

Ghana’s performance assessment of the loan-support programme would be done using six quantitative performance criteria, three indicative targets and other structural benchmarks. “There are a lot of conditions to be met, but we’re working assiduously to make sure that we meet that, and we’ve gone a long way to be ready for the Mission,” Mr Ofori-Atta said. 

Work Done Ahead of the Review

On the work done ahead of the review, Mr Ofori-Atta noted that the government has completed the domestic debt restructuring, including the cocoa bills and domestic dollar bonds, and some pension fund holders. 

From those domestic debt exchange programmes, the government secured $7.7 billion from cocoa bills, $740m from the US-denominated bonds, and $26.9bn, which Mr Ofori-Atta said had provided some fiscal space “to do other things.” 

ADVERTISEMENT

Ofori-Atta expressed confidence in reaching a Staff Level Agreement that would enable the government to go to the IMF Board in November, and subsequent approval for the second tranche in December 2023. 

In addition to debt restructuring, Finance Minister said the government is critical with the ongoing fiscal consolidation and domestic revenue enhancement measures, and social interventions to bring relief to Ghanaians. 

That notwithstanding, the finance minister said the participation of the private sector, would be essential in accelerating the country’s recovery and put the economy on a path of sustainable growth. 

“We’ve proven that as a country, we’re moving in the right direction, and prepared to make some difficult decisions, but the missing link is our engagement with the private sector that will take us to a sustainable means even as government continues to ensure that all our citizens benefit from the economic recovery.”

Ofori-Atta

The Bank of Ghana (BoG) on behalf of the government received the first tranche of $600m of the Extended Credit Facility (ECF) of the $3bn from the IMF on May 17, 2023, as a balance of payment support. 

Dr Ernest Addison, the Governor of BoG said it boosted Ghana’s gross international reserves to $5.7 billion, leading to a reduction in the inflationary and exchange rate pressures. 

The program will help Ghana overcome immediate policy and financing challenges, including through its catalytic effect in mobilizing external financing from development partners and providing a framework for the successful completion of the ongoing debt restructuring.

READ ALSO: EU Hails Ghana’s Efforts In Fighting Illegal Timber Logging

Tags: IMF Schedules September 25 for First Review of Ghana’s IMF ProgrammeInternational Monetary Fund (IMF)Mr Ken Ofori-AttaPost Covid-19 Programme for Economic Growth (PC-PEG)Russia-Ukraine war
Please login to join discussion
Previous Post

The Vetting Process For NPP Parliamentary Candidates Begins On Friday, Sept. 8

Next Post

Martin Amidu Condemns OSP’s ‘Knight-errant Roaming’ Of Arresting Citizens

Subscription Form

Related Posts

Debt Discipline Paying Off? IMF Projects Ghana’s Debt-to-GDP Ratio to Hit 59% by End of 2025
Economy

Debt Discipline Paying Off? IMF Projects Ghana’s Debt-to-GDP Ratio to Hit 59% by End of 2025

October 16, 2025
Global Public Debt to exceed 100% of GDP by 2029, build buffers – IMF Warns
Economy

Global Public Debt to exceed 100% of GDP by 2029, build buffers – IMF Warns

October 16, 2025
A Brewing Debt Storm Threatens Ghana’s Recent Economic Gains
Economy

A Brewing Debt Storm Threatens Ghana’s Recent Economic Gains

October 15, 2025
Ghana’s Finance Minister, Dr. Cassiel Ato Forson, with Ajay Banga, President of the World Bank Group
Economy

Ghana, World Bank Strengthen Partnership to Accelerate Development in Priority Sectors

October 15, 2025
Volta Region Readies for 24-Hour Economy Policy Program
Economy

Volta Region Readies for 24-Hour Economy Policy Program

October 14, 2025
Cedi Stages Stunning Comeback: Rises to GH¢11.9 Per Dollar, Wipes Out Third Quarter Losses
Economy

Cedi Stages Stunning Comeback: Rises to GH¢11.40 Per Dollar, Wipes Out Third Quarter Losses

October 14, 2025
NPP Flagbearer Aspirants Urged to Focus on Real Issues, Responsible Leadership
General News

NPP Flagbearer Aspirants Urged to Focus on Real Issues, Responsible Leadership

by Silas Kafui AssemOctober 16, 2025
Debt Discipline Paying Off? IMF Projects Ghana’s Debt-to-GDP Ratio to Hit 59% by End of 2025
Economy

Debt Discipline Paying Off? IMF Projects Ghana’s Debt-to-GDP Ratio to Hit 59% by End of 2025

by M.COctober 16, 2025
Fmr Eastern Regional Minister Calls for Unity Ahead of NPP’s Presidential Primaries
General News

Fmr Eastern Regional Minister Calls for Unity Ahead of NPP’s Presidential Primaries

by Emmanuel Tibila BoasahOctober 16, 2025
Global Public Debt to exceed 100% of GDP by 2029, build buffers – IMF Warns
Economy

Global Public Debt to exceed 100% of GDP by 2029, build buffers – IMF Warns

by Michael Teye-Bio NaduteyOctober 16, 2025
France’s new Prime Minister, Sébastien Lecornu
Europe

Lecornu Survives Two No-Confidence Votes

by Comfort AmpomaaOctober 16, 2025
Energy Minister Applauds BOST, Urges Infrastructural Expansion
Extractives/Energy

Energy Minister Applauds BOST, Urges Infrastructural Expansion

by Bless Banir YarayeOctober 16, 2025
NPP Flagbearer Aspirants Urged to Focus on Real Issues, Responsible Leadership
Debt Discipline Paying Off? IMF Projects Ghana’s Debt-to-GDP Ratio to Hit 59% by End of 2025
Fmr Eastern Regional Minister Calls for Unity Ahead of NPP’s Presidential Primaries
Global Public Debt to exceed 100% of GDP by 2029, build buffers – IMF Warns
France’s new Prime Minister, Sébastien Lecornu
Energy Minister Applauds BOST, Urges Infrastructural Expansion

Recent News

NPP Flagbearer Aspirants Urged to Focus on Real Issues, Responsible Leadership

NPP Flagbearer Aspirants Urged to Focus on Real Issues, Responsible Leadership

October 16, 2025
Debt Discipline Paying Off? IMF Projects Ghana’s Debt-to-GDP Ratio to Hit 59% by End of 2025

Debt Discipline Paying Off? IMF Projects Ghana’s Debt-to-GDP Ratio to Hit 59% by End of 2025

October 16, 2025
Fmr Eastern Regional Minister Calls for Unity Ahead of NPP’s Presidential Primaries

Fmr Eastern Regional Minister Calls for Unity Ahead of NPP’s Presidential Primaries

October 16, 2025
Global Public Debt to exceed 100% of GDP by 2029, build buffers – IMF Warns

Global Public Debt to exceed 100% of GDP by 2029, build buffers – IMF Warns

October 16, 2025
France’s new Prime Minister, Sébastien Lecornu

Lecornu Survives Two No-Confidence Votes

October 16, 2025
Energy Minister Applauds BOST, Urges Infrastructural Expansion

Energy Minister Applauds BOST, Urges Infrastructural Expansion

October 16, 2025
Subscription Form
The Vaultz News

Copyright © 2025 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2025 The Vaultz News. All rights reserved.