This fund, designated for budget support and stabilizing the local currency, was officially deposited into the Central Bank's account on January 23, 2023.
The approval of the loan facility brings the total disbursement for the country’s implementation of an IMF-supported Post COVID-19 Programme for Economic Growth (PC-PEG) to US$1.2 billion.
This comes about a week after the country secured an agreement with the Official Creditor Committee, leading to the Fund’s endorsement of the country’s first review of the three-year US$3b programme.
Ken Ofori-Atta, the Finance Minister speaking at a joint press briefing described the development as a pivotal milestone in the country’s programme implementation.