IMF confirms Ghana made request for funds to fight coronavirus
The International Monetary Fund (IMF) has confirmed Ghana has made a request for funds to support the country’s fight against coronavirus.
“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,” IMF’s African Department Director,Abebe Aemro Selassie, said in a statement.
The Bretton Wood institution did not state how much the country asked for.
However, the Minister of Finance, Ken Ofori Atta on March 16, 2020, told Parliament that the $100 million devoted by President Akufo-Addo to fight coronavirus pandemic is not yet available.
He said the government had applied to the World Bank to tap into the $12billion Fast Track COVID-19 Facility for Poverty and the $10billion facility managed by International Monetary Fund (IMF) to address the pandemic.
“The assistance from these two institutions when approved will help close the financing gap,” he stated.
Before then, on March 11, 2020, announced a $100 million financial backbone for Ghana’s preparation against the coronavirus fight.