{"id":64705,"date":"2024-01-17T07:12:10","date_gmt":"2024-01-17T07:12:10","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/?p=64705"},"modified":"2024-01-17T06:55:00","modified_gmt":"2024-01-17T06:55:00","slug":"imf-board-schedule-to-approve-ghanas-600-million-second-tranche-on-friday","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-board-schedule-to-approve-ghanas-600-million-second-tranche-on-friday","title":{"rendered":"IMF board schedule to approve Ghana\u2019s $600 million second tranche on Friday"},"content":{"rendered":"

Africa-Press – Ghana. <\/strong><\/span>Following an agreement to restructure US$5.4 billion with its official creditors, Ghana is scheduled to receive the US$600 million second tranche of the US$3 billion rescue loan, according to three sources who spoke with Reuters. <\/b><\/p>\n

The International Monetary Fund (IMF) executive board is scheduled to convene on Friday, January 19, to approve this payment.<\/p>\n

Ghana reached an agreement late last week with its bilateral lenders, which included China and France. This was a crucial step in enabling the IMF to release the second tranche of funds as part of a US$3 billion bailout.<\/p>\n

The debt deal agreement, which was welcomed on Friday by IMF Managing Director Kristalina Georgieva, paves the way for the executive board’s initial evaluation of Ghana’s programme.<\/p>\n

Following a sharp increase in debt servicing costs, the nation defaulted on the majority of its external debt in December 2022. It also needs to come to a relief agreement with private holders of foreign bonds worth roughly US$13 billion. Monday saw an almost 1 cent increase in bond prices relative to the dollar. The 2042 maturity saw the highest increase, rising 0.82 cents to 43.09 cents, its highest level since early November.<\/p>\n

Chinese Foreign Ministry spokesperson Mao Ning said on Monday, \u201cRecently, China encouraged all parties to overcome technical difficulties and narrow differences and finally led all parties to reach a basic consensus on Ghana’s debt settlement plan on January 8.\u201d<\/p>\n

IMF Bailout: Government reaches agreement with official creditors<\/p>\n

$3bn IMF bailout: We’ve met the targets; that is not surprising to me \u2013 Peter Quartey<\/p>\n

Meanwhile, some members of the Official Creditor Committee, which is co-chaired by China and France, are still \u201cgoing through their internal procedures,\u201d she told reporters at a regular media briefing.<\/p>\n

The IMF second tranche payout, once signed-off, should also trigger US$550million in additional World Bank funding, Ghana’s finance ministry said last week Friday.<\/p>\n

The government reached an agreement with its Official Creditors, under the G20 Common Framework, on a comprehensive Debt Treatment Beyond the Debt Service Suspension Initiative. Following the successful completion of the Domestic Debt Exchange Programme (DDEP) in 2023, this development constitutes a significant positive step toward restoring Ghana’s long-term debt sustainability, according to the Ministry of Finance in a statement on Saturday, January 12, 2024.<\/p>\n

This agreement with Official Creditors paves the way for IMF Executive Board approval of the first review of the Fund-supported programme \u2013 allowing for the next IMF financing tranche of US$600million to be disbursed. The IMF Board Approval should also trigger World Bank Board consideration of US$300million Development Policy Operation (DPO) financing. In addition, the World Bank is expected to support the Ghana Financial Stability Fund with US$250million to help address the impacts of the Domestic Debt Exchange Programme (DDEP) on the financial sector.<\/p>\n

Ghana’s economy is said to have turned the corner, yet its significant reform agenda depends heavily on these payouts.<\/p>\n

For More News And Analysis About Ghana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ghana. Following an agreement to restructure US$5.4 billion with its official creditors, Ghana is scheduled to receive the US$600 million second tranche of the US$3 billion rescue loan, according to three sources who spoke with Reuters. The International Monetary Fund (IMF) executive board is scheduled to convene on Friday, January 19, to approve […]<\/p>\n","protected":false},"author":84,"featured_media":64703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,5099],"tags":[5092,5096,429],"class_list":["post-64705","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-to-homepage","tag-africa-press","tag-africa-press-ghana","tag-ghana"],"yoast_head":"\nIMF board schedule to approve Ghana\u2019s $600 million second tranche on Friday - Ghana<\/title>\n<meta name=\"description\" content=\"Following an agreement to restructure US$5.4 billion with its official creditors, Ghana is scheduled to receive the U ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-board-schedule-to-approve-ghanas-600-million-second-tranche-on-friday\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMF board schedule to approve Ghana\u2019s $600 million second tranche on Friday\" \/>\n<meta property=\"og:description\" content=\"Following an agreement to restructure US$5.4 billion with its official creditors, Ghana is scheduled to receive the U ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-board-schedule-to-approve-ghanas-600-million-second-tranche-on-friday\" \/>\n<meta property=\"og:site_name\" content=\"Ghana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-17T07:12:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1705461805.709478.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1080\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-board-schedule-to-approve-ghanas-600-million-second-tranche-on-friday#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-board-schedule-to-approve-ghanas-600-million-second-tranche-on-friday\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"IMF board schedule to approve Ghana\u2019s $600 million second tranche on Friday\",\"datePublished\":\"2024-01-17T07:12:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-board-schedule-to-approve-ghanas-600-million-second-tranche-on-friday\"},\"wordCount\":500,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-board-schedule-to-approve-ghanas-600-million-second-tranche-on-friday#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1705461805.709478.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Ghana\",\"ghana\"],\"articleSection\":[\"all news\",\"Economy\",\"head lines\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-board-schedule-to-approve-ghanas-600-million-second-tranche-on-friday#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-board-schedule-to-approve-ghanas-600-million-second-tranche-on-friday\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-board-schedule-to-approve-ghanas-600-million-second-tranche-on-friday\",\"name\":\"IMF board schedule to approve Ghana\u2019s $600 million second tranche on Friday - Ghana\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-board-schedule-to-approve-ghanas-600-million-second-tranche-on-friday#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-board-schedule-to-approve-ghanas-600-million-second-tranche-on-friday#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1705461805.709478.jpg\",\"datePublished\":\"2024-01-17T07:12:10+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"Following an agreement to restructure US$5.4 billion with its official creditors, Ghana is scheduled to receive the U ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-board-schedule-to-approve-ghanas-600-million-second-tranche-on-friday#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-board-schedule-to-approve-ghanas-600-million-second-tranche-on-friday\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-board-schedule-to-approve-ghanas-600-million-second-tranche-on-friday#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1705461805.709478.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1705461805.709478.jpg\",\"width\":1080,\"height\":720,\"caption\":\"IMF board schedule to approve Ghana\u2019s $600 million second tranche on Friday\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-board-schedule-to-approve-ghanas-600-million-second-tranche-on-friday#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/ghana\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"IMF board schedule to approve Ghana\u2019s $600 million second tranche on Friday\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#website\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/\",\"name\":\"Ghana\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/ghana\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"IMF board schedule to approve Ghana\u2019s $600 million second tranche on Friday - Ghana","description":"Following an agreement to restructure US$5.4 billion with its official creditors, Ghana is scheduled to receive the U ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-board-schedule-to-approve-ghanas-600-million-second-tranche-on-friday","og_locale":"en_US","og_type":"article","og_title":"IMF board schedule to approve Ghana\u2019s $600 million second tranche on Friday","og_description":"Following an agreement to restructure US$5.4 billion with its official creditors, Ghana is scheduled to receive the U ...","og_url":"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-board-schedule-to-approve-ghanas-600-million-second-tranche-on-friday","og_site_name":"Ghana","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2024-01-17T07:12:10+00:00","og_image":[{"width":1080,"height":720,"url":"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1705461805.709478.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-board-schedule-to-approve-ghanas-600-million-second-tranche-on-friday#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-board-schedule-to-approve-ghanas-600-million-second-tranche-on-friday"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"IMF board schedule to approve Ghana\u2019s $600 million second tranche on Friday","datePublished":"2024-01-17T07:12:10+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-board-schedule-to-approve-ghanas-600-million-second-tranche-on-friday"},"wordCount":500,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-board-schedule-to-approve-ghanas-600-million-second-tranche-on-friday#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1705461805.709478.jpg","keywords":["Africa Press","Africa Press-Ghana","ghana"],"articleSection":["all news","Economy","head lines","to-homepage"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/ghana\/all-news\/imf-board-schedule-to-approve-ghanas-600-million-second-tranche-on-friday#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-board-schedule-to-approve-ghanas-600-million-second-tranche-on-friday","url":"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-board-schedule-to-approve-ghanas-600-million-second-tranche-on-friday","name":"IMF board schedule to approve Ghana\u2019s $600 million second tranche on Friday - Ghana","isPartOf":{"@id":"https:\/\/www.africa-press.net\/ghana\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-board-schedule-to-approve-ghanas-600-million-second-tranche-on-friday#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-board-schedule-to-approve-ghanas-600-million-second-tranche-on-friday#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1705461805.709478.jpg","datePublished":"2024-01-17T07:12:10+00:00","author":{"@id":"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"Following an agreement to restructure US$5.4 billion with its official creditors, Ghana is scheduled to receive the U ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-board-schedule-to-approve-ghanas-600-million-second-tranche-on-friday#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/ghana\/all-news\/imf-board-schedule-to-approve-ghanas-600-million-second-tranche-on-friday"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-board-schedule-to-approve-ghanas-600-million-second-tranche-on-friday#primaryimage","url":"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1705461805.709478.jpg","contentUrl":"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1705461805.709478.jpg","width":1080,"height":720,"caption":"IMF board schedule to approve Ghana\u2019s $600 million second tranche on Friday"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/imf-board-schedule-to-approve-ghanas-600-million-second-tranche-on-friday#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/ghana\/"},{"@type":"ListItem","position":2,"name":"IMF board schedule to approve Ghana\u2019s $600 million second tranche on Friday"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/ghana\/#website","url":"https:\/\/www.africa-press.net\/ghana\/","name":"Ghana","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/ghana\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/posts\/64705","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/comments?post=64705"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/posts\/64705\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/media\/64703"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/media?parent=64705"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/categories?post=64705"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/tags?post=64705"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}