Africa Business News

The International Monetary Fund says it has reached a preliminary agreement with the Ghanaian authorities on the economic policies and reforms to conclude the first review of the $3bn bailout fund the country is currently receiving. It said it was satisfied with Ghana’s performance with respect to the programme’s targets and reform objectives. Stéphane Roudet, IMF mission chief for Ghana says the authorities have adjusted macroeconomic policies, successfully completed their domestic debt restructuring operation and launched wide-ranging reforms. Stéphane Roudet added that If this staff-level agreement is given the IMF management’s approval, Ghana would receive about $600m, the second instalment of the three-year bailout programme.