$360m third tranche of IMF cash hits BOG’s account

The Ghanaian government has received $360 million as the third tranche of its bailout package with the International Monetary Fund (IMF).

This funds the budget and stabilizes the local currency, credited to the Central Bank’s account on July 2, 2024.

Following the Executive Board’s second review approval, Ghana has received $1.56 billion of the $3 billion extended credit facility. The fourth tranche of $360 million is expected in Q4 2024.

Additionally, $300 million from the World Bank and $350 million from bilateral institutions are expected in Q3 and Q4 2024, along with COCOBOD syndication proceeds up to $1.5 billion.