Ghana to get the first batch of IMF money this week

The first tranche of International Monetary Fund (IMF) cash to support the country’s balance of payment is expected to hit the Bank of Ghana’s account this week.

Joy Business is learning that the IMF Board will approve the “cash disbursement” as soon as it considers a request for Ghana’s Programme this Wednesday, May 17, 2023.

Part of the first tranche will come in by Friday March 19, 2023, while the remaining should be disbursed by June 2023.

Details of disbursement

The transfers, Joy Business, understands would be done in two instalments; the first one coming in by Friday May 19, 2023 or Monday, May 22, 2023. 

Another disbursement is expected to be done in June 2023.

This will be followed by a visit by an IMF Mission to Ghana in June 2023 to review Ghana’s programme considerations.

Another review is expected just before the end of 2023, possibly in December 2023, before the final disbursement. 

All the funds will be paid directly into the Bank of Ghana’s account to support Ghana’s balance of payments needs.