The government of Ghana may receive a second-tranche of 144 million dollars from the IMF as the fund examines the country’s performance so far after it passed an earlier review in June 2015.
Market observers are optimistic the release of the facility will go a long way to help the local currency gain some strength against other major trading currencies such as the US dollar and the British Pound.
The Ghanaian local currency, the cedi; has faced major challenges leading to its fast depreciating since January 2015.
The government after facing economic challenges applied to the IMF for an economic bailout of 918 million dollars over three years.
The money, when released is also expected to boost infrastructure development as the IMF insists it is channeled to alleviate poverty in the country.
Prior to the government of Ghana applying for the bailout, some Ghanaians showed reservations about the potency of an IMF programme which are not new to the country.
However, government officials including the president, John Mahama explained the move was to gain policy credibility for its home grown plans.
