WASHINGTON, Nov 19 (Reuters) – The International Monetary Fund approved a $30 million payment from its three-year loan to Ghana on Friday and urged the government to keep spending under control.
“Directors … recommended that the authorities curtail low priority expenditures in 2000,” IMF Deputy Managing Director Shigemitsu Sugisaki said in a statement.
“The importance of strict expenditure control to avoid election-related spending overruns was also stressed.”
The IMF approved its $210 million three-year loan to Ghana in May and this is the second payment from the credit. Further instalments are likely every six months, provided the government meets its economic promises to the IMF.
