According to Finance Minister Ken Ofori-Atta, by the end of the year, the government should have received about $6.2 billion from its multilateral partners.
Delivering a speech on the economy to the country at the Ministry of Finance On Sunday, June 18, the Minister announced that the IMF-backed Ghana Post-COVID-19 Program for Economic Growth (PC-PEG), which includes all necessary reforms to revive the economy, has been developed by the government.
“Our commitment to these reforms is matched by our relentless pursuit of innovation and strengthened partnerships. Backed by the renewed drive for reforms, the government is working towards securing significant support from our multilateral partners.
“Altogether, and including the IMF funds, World Bank, and AfDB support, we expect multilateral support of about US$2.0 billion for 2023 and US$6.2 billion between 2023 and 2026. We expect the World Bank to provide a total support of US$1.6 billion whilst the AfDB provides a total support of US$200 million over the program period.”
He added that “We expect to mobilize catalytic funding of US$30 million in 2023 and US$330 million between 2023 and 2026 from bilateral creditors.”
According to Mr. Ofori-Atta, the government is committed to implementing the reforms and anticipates receiving $2 billion in funding from multilateral partners by the year 2023.
