Ghana receives first $600 million tranche of $3 billion IMF loan -Ghana’s finance minister

JOHANNESBURG (Reuters) – Ghana’s Finance Minister Ken Ofori-Atta said on Friday that the first $600 million tranche of a $3 billion, three-year extended credit facility has been received.

The funds will be used for budget support and help bring down inflation, Ofori-Atta said on Twitter.

The International Monetary Fund’s executive board on Wednesday approved the $3 billion, three-year rescue loan, paving a potential path out of Ghana’s worst economic crisis in a generation.

(Reporting by Anait Miridzhanian; editing by Jonathan Oatis)