The Minister of Information, Kojo Oppong Nkrumah has explained what the 3 billion dollars loan facility from the International Monetary Fund (IMF) is going to be used for in the country.
According to him, the money will be released to Ghana in seven (7) tranches with the first tranche being the 600 million dollars.
He reiterated on Peace FM's 'kokrokoo' show Friday that the 600 million dollars has hit the account of the Bank of Ghana.
He further revealed that the other tranches have been spread over the next 3 years, stressing the rest of the money will be released only when Ghana meets the performance criteria given by the IMF.
"It's a three-year programme till April 16th, 2026. The way we structured is such that, when the Board approved it, they released 600 million . . . then by November 1st, they will release another 600 million when we meet the performance criteria," he told host Kwami Sefa Kayi.
He added that another $600 million will be released in November 2023 and $360 million in May, June next year and between May 1st and October 2025 till April 16, 2026.
He added that the first 600 million will be used for balance of payment and budget support for Ghana.
Source: Ameyaw Adu Gyamfi/Peacefmonline.com/Ghana
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NPP has to vote MP for Weija Gbawe out, this good for nothing woman is just messing up with people in her constituency. People living in Tetegu pleaded with her to construct a drainage for them on several occasions but she refused to do it. is a time for all these old people to go on retirement..
The fate of the NPP in the 2024 general elections will depend largely on how this IMF funds will be utilized. With this money if things still remain as they are i doubt whether the Ghanaian electorate will favour the NPP . Considering the stress the government went through to secure this bailout, if they don't manage the economy well they have no reason to accuse Covid 19 and Russia for invading Ukraine. Nobody will be ready to listen to any excuses again. Akuffo Addo should save his image by ensuring that he doesn't hand over power to John Mahama in January , 2025. If he were to hand over power to John Mahama it means the Ghanaian people will be saying that John Mahama with all the negative tags during regime is still far better. John Mahama is certainly not the alternative but his Akuffo Addo and his appointees fail to change for the better, bet me the Ghanaian electorate will be compelled to bring him in. If NPP supporters refuse to vote, that will be an advantage for the NDC . Currently the people are not happy at all including the ordinary NPP supporter .Hope someone is listening.
Ghanaians are watching this IMF money since no more mismanagement all Ghanaians eyes on the IMF money how it will used we are watching now there must no suffering in GHANA like before Ghana cedis must be stable with good economic situations