Ghana’s IMF program likely to free up other lending – Lagarde

The head of the International Monetary Fund said on Saturday that a new IMF support program for Ghana would likely unlock lending from other bilateral institutions.

“It clearly will have a catalytic effect,” IMF Managing Director Christine Lagarde told a news conference at the conclusion of a meeting of the IMF’s steering committee.

“When a country has signed a program … it generally always triggers on the part of other bilateral institutions, of other bilateral lenders, financing that sometimes had been frozen or locked.”

Earlier this month, the Fund approved a three-year $918 million financial assistance deal for Ghana aimed at restoring economic stability and boosting job growth.

Source : reuters