IMF, Ghana reveal details of $3bn bailout deal

Ghana’s IMF Chief, Stephane Roudet, and Finance Minister Ken Ofori-Ataa, along with other key participants are holding a press briefing to provide further insights into the $3 billion bailout deal.

The Executive Board of the International Monetary Fund (IMF) has approved a 36-month Extended Credit Facility (ECF) arrangement for Ghana amounting to approximately 3 billion US dollars.

The decision taken on May 17th, 2023, allowed for an immediate disbursement of about 600 million US dollars, with the remaining funds expected to be disbursed in installments every six months, subject to program reviews by the IMF Executive Board.