Finance Minister Ken Ofori-Atta is confident that Ghana will successfully secure the second installment of financial support from the International Monetary Fund (IMF).

With the country facing economic challenges such as high inflation, currency depreciation, widening budget deficits, and mounting debt, the disbursement of US$600 million will be a significant boost to Ghana’s recovery efforts.

Minister Ofori-Atta expressed optimism regarding Ghana’s ability to meet the necessary criteria for the release of funds. Following a productive visit by the IMF’s staff, the government expects to receive the funds in September 2023.

The recent discussions and assessments conducted by cabinet members and parliament have positioned Ghana well for a favorable review and the subsequent approval by the IMF Board in November.

The IMF’s financial support serves as a timely intervention for Ghana, addressing the urgent need for economic stabilization and the implementation of vital reforms.

By providing the necessary resources, the IMF aims to assist Ghana in overcoming the challenges it faces and fostering sustainable growth.