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Browsing: COVID-19 in Ghana
International Monetary Fund (IMF) Executive Board approved the disbursement of $1 billion to Ghana to address the COVID-19 Pandemic.
Ghana has already been affected by the pandemic with the country’s growth slows down, exchange rates under pressure and tightening of financial conditions.
The fund to be drawn under the Rapid Credit Facility will help meet the pressing fiscal and balance of payments needs that the country is facing and speed support from other development partners.
The International Monetary Fund (IMF) is closely monitoring ghana’s situation and is ready to provide policy advice and further support if needed.
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“The COVID-19 pandemic is impacting Ghana severely. The budget deficit is projected to widen this year given expected lower government revenues and higher spending needs related to the pandemic. The Fund’s emergency financial assistance under the Rapid Credit Facility will help address the country’s …