IMF approves emergency aid packages for Ghana and Senegal

GHANA AND Senegal are the latest African nations to receive emergency aid from the International Monetary Fund (IMF) as the region tackles the economic impact of the coronavirus pandemic.

The former is set to receive $1 billion in relief, with Senegal receiving $442 million so they can respond effectively to the rapidly developing spread of the COVID-19 virus.

According to the IMF, Ghana is particularly at risk of debt distress, the emergency aid helping it to address fiscal requirements and balance of payments needs. The organisation has been providing assistance to several other African countries, including Gabon and Tunisia, among others.