Africa

Ghana receives $1billion assistance from IMF to boost post-COVID-19 recovery

Ghana has received a sum of 1 billion U.S. dollars from the International Monetary Fund (IMF) to boost its post-COVID-19 economic recovery, the Ministry of Finance said in a release on Friday.

The package is part of the fund’s 650-billion-dollar package approved to support the post-COVID economic recovery in IMF member states.

“The new allocation will meet the additional financing needs of the country, caused by the impact of the pandemic on public financing,” said the release.

The gesture from the IMF “provides additional policy space to support Ghana’s efforts to counter the impact of the pandemic on lives and livelihoods,” Finance Minister Ken Ofori-Atta said.

He added that the government would follow all statutory requirements in spending the IMF support funding.

In 2020, Ghana received an initial package of 1 billion dollars from IMF to support its fight against the pandemic.

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