The International Monetary Fund (IMF) and Ghana have reached an agreement on the third review of the West African country’s $3 billion loan program.
The IMF announced this in a statement on Friday.
Ghana, a major producer of gold and cocoa, is nearing the completion of a debt restructuring process under the G20’s Common Framework initiative.
The country defaulted on most of its $30 billion international debt in 2022.
The IMF said that Ghana’s performance under the IMF-supported program has been generally satisfactory.
Upon completion of the fund’s executive board review at a yet-to-be-scheduled date, Ghana will have access to $360 million in financing.