Ghana and the International Monetary Fund (IMF) have agreed to continue the bailout programme for one more year.
This was confirmed by the Board of the fund after a meeting between the two stakeholders.
The IMF also approved 94.2 million dollars for Ghana under the fourth review on Wednesday.
This brings the total disbursement under the program to 565.2 million dollars with the remainder being tied to the remaining reviews.
The IMF Board also approved Ghana’s request for waivers for the nonobservance of performance criteria and modification of one performance criterion.
This development contradicts what the NPP government has been saying before the meeting.
The NPP had earlier indicated that it would not extend the program which was expected to be terminated by the end of 2018. The programme is now set to end in 2019.
The Mahama-led government in 2015 led Ghana to the IMF for economic assistance.
The deal concluded with a funding support of 918 million dollars to be disbursed under eight tranches.