The International Monetary Fund-IMF staff and Ghanaian Authorities reached agreement of a $3 billion loan to a new 3-year deal under the Extended Credit Facility-ECF.
The reform program aims at restoring Macroeconomic stability and debt sustainability while protecting the vulnerable, preserving Financial stability, and laying the foundation for strong and inclusive economic recovery.
In a statement, the IMF team leader Stephane Roudet said that the IMF team reached a staff-level agreement with the Ghanaian authorities on a 3-year program supported by an arrangement under ECF.
“The Staff level agreement is subject to IMF management and Executive Board Approval and receipt of the necessary Financing assurances by Ghana’s Partners and creditors”, the IMF leader Stephane Roudet said.
“Structural reforms will be introduced to underpin the Fiscal strategy and ensure a durable consolidation. These include developing a medium-term plan to generate additional revenue and advancing reforms to bolster tax compliance”, Roudet added to his statement.