IMF reschedules board meeting on Ghana’s programme to January 19

The International Monetary Fund (IMF) has adjusted the date of its Executive Board meeting to evaluate Ghana's program and authorize a $600 million disbursement to January 19, 2024, according to Joy Business.

This assessment marks the first since Ghana secured the IMF program in May 2023. The rescheduling is reportedly not linked to Ghana's adherence to program benchmarks or concerns about its agreement with external bilateral creditors.

Instead, it stems from the IMF Executive Directors requesting additional time to scrutinize Ghana's submitted documents. Sources indicate that the board requires a minimum of three working days for the necessary scrutiny and procedural review. Originally scheduled for January 18, 2024, the meeting date was adjusted to provide adequate time for document review.

If Ghana successfully meets the set targets during this review, the Executive Board is expected to approve a $600 million disbursement as the second bailout package, with funds expected to reach the Bank of Ghana within four working days.