Lecturer at the University of Ghana Business School (UGBS) Prof. Godfred Bokpin says Ghana’s failure to get the next tranche of $600 million from the IMF will undermine the confidence the country has made so far.
Following an agreement to restructure US$5.4 billion with its official creditors, Ghana is scheduled to receive the US$600 million second tranche of the US$3 billion rescue loan, according to three sources who spoke with Reuters.
The International Monetary Fund (IMF) executive board is scheduled to convene on Friday, January 19, to approve this payment.
Ghana reached an agreement late last week with its bilateral lenders, which included China and France. This was a crucial step in enabling the IMF to release the second tranche of funds as part of a US$3 billion bailout.
The debt deal agreement, which was welcomed on Friday by IMF Managing Director Kristalina Georgieva, paves the way for the executive board’s initial evaluation of Ghana’s program.
Prof. Bokpin believes the delay of the next tranche of the $600 million will be dire to Ghana’s economy.
LISTEN TO PROF. GODFRED BOKPIN IN THE AUDIO BELOW:
Story by: Emmanuel Romeo Tetteh(#RomeoWrites) / Ahotoronline.com
