Ghana has just reached a new milestone in its economic recovery programme.
The International Monetary Fund (IMF) has announced the release of a third tranche of a loan of 360 million dollars, or approximately 220 billion CFA francs, in favor of this West African country.
This decision, taken by the IMF board, brings to $1.56 billion the total amount received by Accra as part of an ambitious $3 billion support plan.
The new payment comes at a crucial time for the Ghanaian economy, which is going through a turbulent period marked by galloping inflation and considerable external debt.
Despite these challenges, the IMF highlights the notable progress made by the government. Economic growth turned out to be more robust than expected, while inflation, which was reaching record highs in 2022, declined rapidly, reaching 22.1% last May.
This injection of liquidity demonstrates the renewed confidence of the IMF in the reforms initiated by Accra.
It comes after a second review of the measures implemented, deemed satisfactory by the international financial institution.
This financial support aims to help Ghana overcome its challenges, including soaring food and energy prices, as well as to ease its external debt burden, estimated at around $30 billion at the start of the year. year 2023.
As Ghana strives to regain economic stability, this new financing from the IMF appears like a breath of fresh air.
It should enable the country to continue its efforts at reform and budgetary consolidation, while working to revive its economy.
This close collaboration between Ghana and the IMF illustrates the challenges faced by many African countries in their quest for sustainable economic development.
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