Ghana is close to receiving another $360 million disbursement from the International Monetary Fund as it reached a staff-level agreement with the Washington-based lender on the third review of an extended credit facility program.

International Monetary Fund staff and officials in Ghana have reached an agreement on their third review of the West African country's $3 billion IMF loan programme, the fund said on Friday.

The International Monetary Fund and Ghanaian authorities have reached an agreement on a third review of the West African country's $3 billion loan programme, the IMF said in a statement on Friday. The West African gold and cocoa producer is nearing completion of a debt restructuring process under the G20's Common Framework initiative after it defaulted on most of its $30 billion international debt in 2022.