Read on Twitter
Some relief coming from the $1bn facility given to Ghana by the IMF. https://www.imf.org/en/News/Articles/2020/04/13/pr20153-ghana-imf-executive-board-approves-a-us-1-billion-disbursement-to-ghana-to-address-covid-19
This is a rapid credit facility. The fund support under this facility is provided without ex post program based conditionalities or reviews. This $1bn comes with a zero % interest rate. It has a grace period of five and half years and a final maturity of ten years.
It's usually given to low income countries to balance their payments needs in times of disasters or shock. This rapid credit facility focuses primarily on poverty reduction and growth objectives of lower income countries in the world and provide policy support.
If I had it my way, I'd have advised the President to invest the vast majority of the money into agriculture and industries and technology. These three are the engine of growth looking at other advanced country's model of growth.
