The Governor of the Bank of Ghana (BoG), Dr Ernest Addison has confirmed that the first tranche of US$604 million out of the US$3 billion IMF bailout will hit the accounts of the central bank on Friday (19 May 2023).
Joining a joint Ghana-IMF press conference in Washington DC via zoom, Addison said the money would boost the country’s reserves.
“…Just for your information we have had a SWIFT advice today to receive the money, value day tomorrow (19 May) which is US$604 million,” he said.
The executive board of the IMF approved Ghana’s request for a US$3 billion bailout to support the country’s economic recovery on Wednesday (17 May).
The Fund said its support programme for the country will focus on reining in inflation and rebuilding the country’s foreign reserve buffers.
Credit to Asaaseradio
