IMF Loan Approves $46 Mil Loan

The International Monetary Fund approved on Thursday an additional disbursement of US $46 million under Ghana's three-year Poverty Reduction and Growth Facility programme, bringing to US $66 million the amount the country will be able to borrow in the short term for projects. Ghana's poverty scheme, initiated in 1999, benefits from a US $239-million credit line. So far the West African country has used US $89 million, the IMF said in a statement.

"The Fund commends the authorities' progress in revamping the development and poverty reduction strategy with the broad participation of civil society, and looks forward to seeing a full Poverty Reduction Strategy Paper later in 2001," IMF's Deputy Managing Director, Eduardo Aninat said in the statement.