An economist, Dr. Patrick Assuming, has expressed his confidence in Ghana’s ability to bag the second tranche of the International Monetary Fund’s $3 billion loan in September.
According to him, the government has shown progress in meeting most of the conditionalities to qualify for the second tranche.
Ghana received the first tranche of $600 million in May this year after receiving the IMF’s Executive Board approval.
After the reception of the first tranche, the IMF lauded the country and noted that the economy had made some progress.
Another visit from the Fund is expected to assess the country’s eligibility for the second disbursement.
Dr Asuming told citibusinessnews.com “Based on the indicators and the actions that have been taken so far, you expect that the IMF staff will commend and then the Board will approve that the next tranche is paid. Some of the indicators have stabilized or marginally improved.”
He added, “If you look at the actions that the government must take for the upcoming review, the legal requirements such as changing the Bank of Ghana Act to curtail BoG lending to government and related matters and measures to rake in more revenue, you get the sense that government has done more than enough so my expectation is that when the IMF team comes on board they will probably find the progress made favorable enough to approve the next tranche.”
Source: www.ghanaweb.com