{"id":70196,"date":"2024-04-04T07:01:43","date_gmt":"2024-04-04T07:01:43","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/uncategorized\/2nd-review-ministry-of-finance-bog-and-imf-team-had-a-fruitful-opening-meeting"},"modified":"2024-04-04T07:42:30","modified_gmt":"2024-04-04T07:42:30","slug":"2nd-review-ministry-of-finance-bog-and-imf-team-had-a-fruitful-opening-meeting","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/2nd-review-ministry-of-finance-bog-and-imf-team-had-a-fruitful-opening-meeting","title":{"rendered":"2nd review: Ministry of Finance, BoG and IMF team had a fruitful opening meeting"},"content":{"rendered":"

Africa-Press – Ghana. <\/strong><\/span>The Minister of Finance Dr Mohammed Amin Adam has said that the Ministry, the Bank of Ghana (BoG) and the International Monetary Fund (IMF) team had a fruitful opening meeting on Tuesday, April 2 to commence the 2nd Review mission.<\/b><\/p>\n

Over the weekend, the mission staff from the IMF arrived in the country to commence the assessment of Ghana\u2019s performance against the program\u2019s objectives. This evaluation will span the next two weeks.<\/p>\n

\u201cThe Ministry of Finance, the BoG and the IMF team had a fruitful opening meeting to commence the 2nd Review Mission,\u201d the Ministry wrote on its X platform on Tuesday.<\/p>\n

Dr Mohammed Amin Adam earlier said said that a Preliminary assessment undertaken by the Ministry and the central bank showed that they were on course to meet most of the targets under the Programme with the Fund.<\/p>\n

In his first monthly press briefing on the economy in 2024, held last week, Dr Amin Adam said \u201cThe Ministry of Finance is working with the BoG in preparation for the IMF 2nd Review Mission. Preliminary assessment undertaken by MoF and BoG shows that we are on course to meet most of the targets under the Programme.\u201d<\/p>\n

\u201cDuring the 2nd Review, the IMF mission will engage the authorities in technical and policy discussions to enable them to assess Ghana\u2019s performance on programme objectives, the 6 Quantitative Performance Criteria (QPCs), the 3 Indicative Targets (ITs), 1 Monetary Policy Consultation Clause (MPCC), and the Structural Benchmarks (SBs) with respect to end Dec 2023 targets. They will also review performance towards upcoming QPCs, ITs, and SBs,\u201d he added.<\/p>\n

The finance minister emphasised that the approval of the 2nd Review by the IMF Executive Board, potentially in June 2024, will trigger the release of the 3rd tranche of US$360 million, increasing the total disbursements under the programme to US$1.56 billion.<\/p>\n

\u201cThe 2nd Review will be the first of the two semi-annual reviews programmed for 2024. The 3rd Review has been programmed for Nov 2024,\u201d he added.<\/p>\n

The Governor of the Bank of Ghana, Dr Ernest Addison also expressed confidence that Ghana will get a second positive review of the deal with the IMF which will result in the release of the third tranche.<\/p>\n

He revealed that the team from the Fund will be arriving in Ghana in April for the second review of the $ 3 billion deal.<\/p>\n

The country had already received two tranches, $600million each. The release of the third tranche would increase the total disbursements so far to US$1.56 billion.<\/p>\n

Asked when Ghanaians should expect the third tranche while speaking at the 117th Monetary Policy Committee (IMF) press conference in Accra on Monday, March 25, Dr Addison said \u201cOn the third tranche of the IMF facility, we are expecting the Fund to come for a second review in April. I think they are going to be here for two weeks, during which they will broadly look at everything, fiscal performance, monetary policy performance, inflation, reserved accumulation as well as some of the structural benchmarks. This would be based on data at the end of December [Last year.]<\/p>\n

\u201cFrom our assessment, we are fairly confident of the performance at the end of December and are not expecting any surprises. If the review is successful, hopefully, the board of the IMF will meet by May or June and we should expect disbursements soon thereafter. This time we are not expecting $600 million, this time we $360 million.\u201d<\/p>\n

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

Africa-Press – Ghana. The Minister of Finance Dr Mohammed Amin Adam has said that the Ministry, the Bank of Ghana (BoG) and the International Monetary Fund (IMF) team had a fruitful opening meeting on Tuesday, April 2 to commence the 2nd Review mission. Over the weekend, the mission staff from the IMF arrived in the […]<\/p>\n","protected":false},"author":84,"featured_media":70195,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[5092,5096,429],"class_list":["post-70196","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-ghana","tag-ghana"],"yoast_head":"\n2nd review: Ministry of Finance, BoG and IMF team had a fruitful opening meeting - Ghana<\/title>\n<meta name=\"description\" content=\"The Minister of Finance Dr Mohammed Amin Adam has said that the Ministry, the Bank of Ghana (BoG) and the Internation ...\" \/>\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\/2nd-review-ministry-of-finance-bog-and-imf-team-had-a-fruitful-opening-meeting\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"2nd review: Ministry of Finance, BoG and IMF team had a fruitful opening meeting\" \/>\n<meta property=\"og:description\" content=\"The Minister of Finance Dr Mohammed Amin Adam has said that the Ministry, the Bank of Ghana (BoG) and the Internation ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ghana\/all-news\/2nd-review-ministry-of-finance-bog-and-imf-team-had-a-fruitful-opening-meeting\" \/>\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=\"2024-04-04T07:01:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-04T07:42:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/04\/sm_1712203867.443723.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"406\" \/>\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\/2nd-review-ministry-of-finance-bog-and-imf-team-had-a-fruitful-opening-meeting#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/2nd-review-ministry-of-finance-bog-and-imf-team-had-a-fruitful-opening-meeting\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"2nd review: Ministry of Finance, BoG and IMF team had a fruitful opening meeting\",\"datePublished\":\"2024-04-04T07:01:43+00:00\",\"dateModified\":\"2024-04-04T07:42:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/2nd-review-ministry-of-finance-bog-and-imf-team-had-a-fruitful-opening-meeting\"},\"wordCount\":588,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/2nd-review-ministry-of-finance-bog-and-imf-team-had-a-fruitful-opening-meeting#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/04\/sm_1712203867.443723.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Ghana\",\"ghana\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/2nd-review-ministry-of-finance-bog-and-imf-team-had-a-fruitful-opening-meeting#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/2nd-review-ministry-of-finance-bog-and-imf-team-had-a-fruitful-opening-meeting\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/2nd-review-ministry-of-finance-bog-and-imf-team-had-a-fruitful-opening-meeting\",\"name\":\"2nd review: Ministry of Finance, BoG and IMF team had a fruitful opening meeting - 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