“We have had some discussions with the government on that and as you know, SDRs are for balance of payment support but the IMF has decided that we may also use it for budget support. Earlier in August this year, the IMF made available US$1 billion, equivalent to SDR793 million for Ghana. The SDR allocation was first introduced for all countries as part of emergency response programme to the global recession following the Great Depression era. The IMF allows for countries to access emergency financing disbursement under the Rapid Credit Facility. The recent disbursement for Ghana was approved by the Fund 18 months ago as part of measures in fighting the Coronavirus pandemic.

Source: GhanaWeb September 28, 2021 17:03 UTC