IMF spokesperson Julie Kozack told a news briefing that the the Fund is hopeful that the IMF executive board can quickly consider the Ghana program once enough official bilateral creditor assurances have been secured. The package was agreed at the staff level in December.
"We have seen strong progress toward creditors delivering on these financing assurances and we're hopeful that they can be delivered very rapidly," Kozack said.
Last month, Ghana's finance minister, Ken Ofori-Atta said during a presentation that he expects IMF board approval for the loan in May.
Gold, oil and cocoa-producing Ghana is battling its worst economic crisis in a generation, brought by currency depreciation and growing debt coupled with high interest rates.
Inflation reached a more than two-decade high of 54.1% in December, but has since slowed, falling to 45% year-on-year in March.
The government has been unable to redress the situation and service its debt despite spending cuts and several central bank interest rate hikes.
