IMF approves Ghana's $3 billion loan request

The Executive Board of the International Monetary Fund (IMF) has unanimously approved a $3 billion bailout package for Ghana, which is facing economic difficulties. According to reports in the national press, the IMF has approved a request for a $3 billion bailout package to support the recovery of Ghana’s economy. Ghana’s Deputy Energy Minister Mohammed Amin Adam said in a statement that the government expected to receive the first part of the $3 billion loan from the IMF this week. Adam said the remaining amount was likely to be paid in equal installments of $350 million every six months, subject to IMF reviews. Ghana withdrew from the IMF program three years ago as part of the “Beyond Aid Ghana” campaign. The country had recently been facing economic hardship, but a $3 billion loan agreement had been signed with the IMF again. Although this decision has been criticized by activists and the public, analysts say it will help Ghana cope with its challenges.