Sources: In May, the IMF will approve a $3 billion bailout for Ghana.

IMF - Rapid News Gh

According to information acquired by Rapid News GH, Ghana is on pace to receive final clearance for the $3 billion rescue program from the International Monetary Fund (IMF) in May after using their goodwill and that of important bilateral creditors to expedite the debt restructuring process.

The final obstacle for Ghana to clear is financial assurance from the bilateral creditors, which is due later this month. Once this hurdle has been cleared, the request can be submitted to the IMF Executive Board in May for review and approval.

Francis Obeng of Rapid News GH, who is in Washington, D.C., USA, covering the World Bank/IMF Spring Meetings, has been informed by three sources with extensive knowledge of the discussions.

In Washington, D.C., where top economic decision-makers from around the world have gathered for the IMF/World Bank Spring Meetings, one source said, “I am pretty sure the request will not encounter any challenges once it goes before the board and so a deal in early or mid-May is possible.”

International Monetary Fund Managing Director Kristalina Georgieva had expressed optimism that the fund’s Executive Board would quickly give Ghana’s request final clearance.

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