The Executive Board of the International Monetary Fund (IMF) approved for Ghana on Friday, a three-year arrangement under the Extended Credit Facility (ECF) of 663. 20 Million Special Drawing Rights (SDR-United Nations currency) or 918 million U.S dollars, a release received here has said.
The decision by the Executive Board will enable an immediate disbursement of SDR 83.025 million or about 114.8 million dollars, it added.
The facility, according to the release, is to support the medium-term economic reform program of Ghana.
"The program aims to restore debt sustainability and macroeconomic stability to foster a return to high growth and job creation, while protecting social spending," said the release issued from the IMF headquarters by Dieng Ismaila, Senior Communications Officer for the fund.