IMF Board approves Ghana's request for $3 billion bailout

The International Monetary Fund has approved a $3 billion bailout for Ghana, according to a graphiconline report.

According to the report, the bailout was approved at a meeting today [May 17, 2023] in Washington by the Executive Board of the IMF unanimously.

The programme is expected to last for the next three years.



Read full article/> The report further noted that a press release is expected in a few hours after all processes are completed and the deal is signed off.

Earlier, Managing Director of the IMF, Kristalina Georgieva, had expressed optimism, that the swelling goodwill that Ghana was getting from the international community, including its creditors could guarantee the approval of the loan.

She added that, her outfit was pushing the bilateral creditors to quickly provide the financial assurance needed for the board to approve the deal.

Prior to this, Ghana had completed all prior actions necessary to receive sup­port for its economic recovery programme, the International Monetary Fund (IMF).