A statement issued by the IMF and copied to JOYBUSINESS noted that “IMF executive board today completed the fourth review of the arrangement under the Extended Credit facility”.
This confirms earlier reports that the program could likely be completed in the first quarter of 2019.
The statement further added that completion of the fourth Extended Credit Facility review enables the disbursement of some $94 million,
This brings the total disbursement under the program to $565.2 million, with the remainder being tied to the remaining reviews.
The Board also approved Ghana’s request for waivers for non-observance of performance criteria and modification of one performance criterion.
Initial comment from sources close to government
Sources said the Ministry of Finance has been notified that the board meeting went well and they are happy to hear that “ all the hard work on both sides has paid off”, adding that “ this is further confirmation that this government is on the right path and they are committed to the program and to its completion.
Government is however silent for now on the one year extension.
An Entrepreneur and Philanthropist. Editor-in-Chief of www.233times.com. A Senior Journalist with Ghanaian Chronicle Newspaper. An alumnus of Adisadel College where he read General Arts. He holds first degree in Bachelor of Arts from the University of Ghana; Political Science (major) and History (minor). He has also pursued MSc Corporate Social Responsibility (CSR) and Energy with Public Relations (PR) at the Robert Gordon University in the United Kingdom. He is a 2018 Mandela Washington Fellow (YALI) who studied at Clark Atlanta University on the Business and Entrepreneurship track. His mentors are Rupert Murdoch, Warren Buffet, Sam Jonah, Kwaku Sakyi Addo and Piers Morganview all posts by: Nana Kwesi Coomson
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