• About us
  • Donate
  • WADR
  • Contact us
  • Live Stream
Thursday, March 23, 2023
Loud Silence News
Advertisement
  • Ghana News
    • General News
    • Business
    • Education
    • Opinion
  • US News
    • Business
    • Health
    • Human Interest Stories
    • Politics
    • Education
  • Africa News
    • Business
    • Education
    • Health
    • Politics
  • ShowBiz
    • Ghana ShowBiz
    • US Showbiz
    • African ShowBiz
    • World Showbiz
  • Editorials
    • People
  • World News
    • Politics
    • Business
    • Education
    • Health
  • Sports
    • Ghana Sports
    • World Sports
  • WADR
No Result
View All Result
  • Ghana News
    • General News
    • Business
    • Education
    • Opinion
  • US News
    • Business
    • Health
    • Human Interest Stories
    • Politics
    • Education
  • Africa News
    • Business
    • Education
    • Health
    • Politics
  • ShowBiz
    • Ghana ShowBiz
    • US Showbiz
    • African ShowBiz
    • World Showbiz
  • Editorials
    • People
  • World News
    • Politics
    • Business
    • Education
    • Health
  • Sports
    • Ghana Sports
    • World Sports
  • WADR
No Result
View All Result
Loud Silence News
No Result
View All Result
Home Ghana News

Ghana Parliament approves $1b IMF COVID-19 loan

Loud Silence Staff by Loud Silence Staff
April 19, 2020
in Ghana News
0
Ghana Parliament approves $1b IMF COVID-19 loan
2
SHARES
11
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

[ad_1]

Ghana Parliament approves $1b IMF COVID-19 loan


Ghana Parliament approves $1b IMF COVID-19 loan


width=300Parliament on Friday evening approved $1 billion credit facility to mitigate the impact of the COVID-19 pandemic.

The facility, titled “Rapid Credit Facility (RCF) Agreement” is between the Government of Ghana, represented by the Ministry of Finance, and the International Monetary Fund (IMF) amounts to 738 million Special Drawing Rights.

The approval follows a request from the Government of Ghana after the IMF had announced on 4th March 2020 a $50 billion support to help address the Coronavirus impact with an allocation of US$ 10 billion for low-income countries through the RCF window.

Dr Mark Assibey-Yeboah, Chairman of the Finance Committee, presented the report of the Committee to the plenary, said the facility is 100 percent of Ghana’s quota and the disbarment of the facility proceeds to Ghana was expected to take place in a single tranche on Friday, April 17, 2020.

The purpose of the facility is to provide low access, rapid and concessional financial assistance to Low-Income Countries facing an urgent balance of payments needs, without ex-post conditionality.

In Ghana’s case, the RCF has been negotiated to be used for Budget Support.

According to the report, Ghana originally requested 50 percent of Ghana’s quota, but the Minister of Finance successfully engaged the IMF to increase the request to 100 percent of Ghana’s quota.

The terms and conditions of the loan are that it has a grace period of 5 and a half years, a repayment period of 4 and a half years, a maturity period of 10 years, with no interest charge.

Dr Assibey-Yeboah announced that an approximate GH¢1 billion of the fund would be used to finance the electricity subsidy announced by President Nana Addo Dankwa Akufo-Addo, whilst the remainder would be employed towards expenditure outlined in the 2020 Budget.

As of 18th April 2020, Ghana had recorded 834 confirmed COVID-19 positive cases, nine deaths and 99 recoveries.

Source: GNA

The post Ghana Parliament approves $1b IMF COVID-19 loan appeared first on Ghana Business News.

Read Full Story

Advertise Here contact ads[@]ghheadlines.com




[ad_2]

This content first appear on ghheadlines

You might also like

Kevin Taylor pays match ticket for 333 RTU supporters for tomorrow’s game against Berekum Chelsea

Documents Revealing the Pure Theft of Prez Kufuor during Ghana @50

Don’t be seen shouting “Ayansafuo Mo Wo hin” when One Government is in Power and go Mute when the other government comes into Power

Previous Post

Eastern Cape government planning tougher funeral rules to curb spread of Covid-19

Next Post

Hudeidi: The Somali ‘king of oud’ who was felled by coronavirus

Loud Silence Staff

Loud Silence Staff

Related Posts

Kevin Taylor pays match ticket for 333 RTU supporters for tomorrow’s game against Berekum Chelsea
Ghana News

Kevin Taylor pays match ticket for 333 RTU supporters for tomorrow’s game against Berekum Chelsea

by News Reporter
March 18, 2023
Documents Revealing the Pure Theft of Prez Kufuor during Ghana @50
News

Documents Revealing the Pure Theft of Prez Kufuor during Ghana @50

by News Reporter
March 7, 2023
Don’t be seen shouting Anyanafuo Mo Wo hin when One Government is in Power and go Mute when other government comes to Power
Ghana News

Don’t be seen shouting “Ayansafuo Mo Wo hin” when One Government is in Power and go Mute when the other government comes into Power

by News Reporter
February 25, 2023
Don’t be seen shouting Anyanafuo Mo Wo hin when One Government is in Power and go Mute when other government comes to Power
Ghana News

Don’t be seen shouting Anyanafuo Mo Wo hin when One Government is in Power and go Mute when other government comes to Power

by News Reporter
February 25, 2023
I deserve a national award for selling Ghana’s drill ship – KT Hammond
Ghana News

I deserve a national award for selling Ghana’s drill ship – KT Hammond

by News Reporter
February 21, 2023
Next Post
Hudeidi: The Somali ‘king of oud’ who was felled by coronavirus

Hudeidi: The Somali 'king of oud' who was felled by coronavirus

Recommended

Shock as Bulls CEO steps down

Shock as Bulls CEO steps down

April 24, 2020

My Husband might be an Idiot but I’m a Proud Wife: Gifty Osei indirectly assert

August 14, 2021

Categories

  • African Business
  • African Education
  • African Health
  • African News
  • African Politics
  • African ShowBiz
  • Education
  • Ghana Business
  • Ghana News
  • Ghana ShowBiz
  • Ghana Sports
  • Human Interest Stories
  • News
  • Opinion
  • People
  • ShowBiz
  • Social Trends
  • US Business
  • US Education
  • US Health
  • US News
  • US Politics
  • US Showbiz
  • WADR
  • World Business
  • World News
  • World Politics
  • World Showbiz
  • World Sports

Don't miss it

Documents Revealing the Pure Theft of Prez Kufuor during Ghana @50
News

Documents Revealing the Pure Theft of Prez Kufuor during Ghana @50

March 7, 2023
Don’t be seen shouting Anyanafuo Mo Wo hin when One Government is in Power and go Mute when other government comes to Power
Ghana News

Don’t be seen shouting “Ayansafuo Mo Wo hin” when One Government is in Power and go Mute when the other government comes into Power

February 25, 2023
Don’t be seen shouting Anyanafuo Mo Wo hin when One Government is in Power and go Mute when other government comes to Power
Ghana News

Don’t be seen shouting Anyanafuo Mo Wo hin when One Government is in Power and go Mute when other government comes to Power

February 25, 2023
I deserve a national award for selling Ghana’s drill ship – KT Hammond
Ghana News

I deserve a national award for selling Ghana’s drill ship – KT Hammond

February 21, 2023
13 NPP NATIONAL SECURITY BOYS NABBED
Ghana News

13 NPP NATIONAL SECURITY BOYS NABBED

February 18, 2023
Who’s Gabby, I don’t have time for things like Him, He’s not Important to Me- Sophia Akuffo
Ghana News

Who’s Gabby, I don’t have time for things like Him, He’s not Important to Me- Sophia Akuffo

February 14, 2023

About Us

LOGO

Loud Silence Radio & TV Network and is a multi media production company focusing on Ghanaian and African news.

Contact

  • Alexandria, Virginia, USA
  • +1 212-602-9641
  • loudsilenceradio@gmail.com
Facebook Twitter Youtube Linkedin

Download App

google play store

© 2021 Loud Silence Media. All rights reserved.

  • About us
  • Contact us
  • Donate
  • Live Stream
  • Privacy Policy
  • Terms of Use
Menu
  • About us
  • Contact us
  • Donate
  • Live Stream
  • Privacy Policy
  • Terms of Use
No Result
View All Result
  • Ghana News
    • General News
    • Business
    • Education
    • Opinion
  • US News
    • Business
    • Health
    • Human Interest Stories
    • Politics
    • Education
  • Africa News
    • Business
    • Education
    • Health
    • Politics
  • ShowBiz
    • Ghana ShowBiz
    • US Showbiz
    • African ShowBiz
    • World Showbiz
  • Editorials
    • People
  • World News
    • Politics
    • Business
    • Education
    • Health
  • Sports
    • Ghana Sports
    • World Sports
  • WADR
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.