London — The International Monetary Fund‘s Executive Board has completed the fourth review under its Extended Credit Facility arrangement with Ghana, unlocking an immediate disbursement of about $367 million, the IMF said on Monday.
Ghana’s finance ministry said earlier in a post on X that the country will receive a $370 million disbursement from the IMF.
The new funding brings the West African nation’s total disbursements under the arrangement to around $2.3 billion, the fund said.
The IMF approved a $3 billion, three-year bailout for Ghana in May 2023 that helped stabilise Ghana’s economy and led to a Fitch rating revision.
