IMF Approves $ 1 Billion For Ghana To Fight COVID-19 Pandemic

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The Executive Board of the International Monetary Fund has approved the disbursement to Ghana about $1 Billion to be drawn under the Rapid Credit Facility.

This disbursement is to assist Ghana in addressing the urgent fiscal and balance of payments needs that Ghana faces in this era of the Coronavirus pandemic.

It’s expected that this disbursement would help to improve confidence in the Ghanaian economy and serve as catalyst for support from other development partners.

A statement from the IMF stated that the COVID-19 pandemic is already affecting Ghana adversely as growth is on a downward trend and exchange rate is under pressure.

The IMF takes into consideration that the Ghanaian Government has been able to respond to the pandemic in a timely and proactive manner as it fights to prevent the spread of the COVID-19.

The IMF would continue to monitor Ghana’s situation closely and would offer policy advice and further support if needed.

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