Ghana Runs to IMF for Loan to help fight COVI9-19

Ghana has turned to the International Monetary Fund for financial support to combat the novel coronavirus pandemic.

The IMF in a press release disclosed that the government had requested a rapid credit facility disbursement.

IMF’s African Department Director, Abebe Aemro Selassie is quoted as saying: “Last week, the IMF received Ghana’s request for a disbursement under the Rapid Credit Facility to help the country address the economic impact of the COVID-19 pandemic”.

“We are working hard to evaluate the authorities’ request and bring it forward for Executive Board consideration as soon as possible,” the statement added.

So far, President Nana Akufo-Addo has directed the Minister for Finance, Ken Ofori-Atta, to make available the cedi equivalent of $100 million to enhance Ghana’s Coronavirus preparedness and response plan.

Before this directive, the total budget for preparedness with regard to the novel coronavirus stood at GH₵35 million.