Ghana Secures $1.32 Billion Funding from IMF and World Bank for Budget Deficit
Ghana will receive $1.32 billion from the IMF and World Bank to cover 35% of its budget deficit in 2025. The IMF will contribute $720 million through the Extended Credit Facility, while the World Bank will provide $600 million through its Development Policy Operation. The remaining deficit will be financed via domestic borrowing, primarily through treasury bills.
The government of Ghana is set to receive a total of $1.32 billion in financial assistance from the International Monetary Fund (IMF) and the World Bank. This funding will represent 35% of the projected budget deficit for the year 2025, as announced by the Minister of Finance, Dr. Cassiel Ato Forson.
In summary, the allocation of $1.32 billion in financial support from the IMF and World Bank is critical for Ghana, helping to address a significant portion of its budget deficit. The government’s commitment to fiscal discipline and efficient utilization of these funds will be paramount in achieving macroeconomic stability and debt sustainability.
Original Source: www.ghanaweb.com
