IMF extends Ghana's credit program by one year

IMF extends Ghana's credit program by one year

Ghana’s program with the International Monetary Fund (IMF) has been officially extended by one year.

YEN.com.gh brings you the latest news in Ghana right here

The board of the IMF met today in Washington DC to discuss the terms of the program, which led to the extension getting approved.

IMF deal with Ghana extended by one year

File Photo

READ ALSO: SSNIT to soon publish names of persons involved in $72 million scandal

The extension will enable the new government to resolve some challenges in economic structure of the country, especially at the Executive level of government and the Bank of Ghana.

In a report by MyJoyOnline.com, the deal is likely to extend until the end of the year 2018.

The report states that even though government was hoping to end Ghana’s program in 2018, the Fund is uncertain that the current economic structural needs can be addressed in the specified amount of time.

However, the report added that Ministry of Finance was informed that the meeting was successful and shed some light on the efforts of both sides, and the new government’s commitment to tackle the challenges facing the economy.

The IMF program was signed under the erstwhile Mahama administration to help government with some $116 million credit facility mainly to improve the country’s import and export activities.

READ ALSO: Feel free to approach us, we are gnashing- Yvonne Okoro to Ghanaian men

YEN is building a platform where Ghanaians can share local news and own experiences with each other. Witnessing an incident? Want to tell about a local problem? Know someone who is extremely talented and needs recognition? Your stories and photos are always welcome. Send us a message via YEN’s official Facebook page, or contact us via info@yen.com.gh.

Source: Yen.com.gh

Related news
Kennedy Agyapong makes a shocking prayers to God against Free SHS saboteurs

Kennedy Agyapong makes a shocking prayers to God against Free SHS saboteurs

Ken Agyapong makes a shocking prayers to God against Free SHS saboteurs
YEN.com.gh
Mailfire view pixel