The Executive Board of the International Monetary Fund (IMF) has completed the first review of Ghana’s economic performance under the program supported by an Extended Credit Facility (ECF) arrangement. Completion of the review enables the disbursement of SDR 83.025 million (about US$116.6 million), bringing total disbursements under the arrangement to SDR 166.05 million (about US$233.1 million). Ghana’s three-year arrangement for SDR 664.20 million (about US$918 million or 180 percent of quota) was approved on April 3, 2015. “ Bank of Ghana (BoG) should stand ready to tighten monetary policy further if inflationary pressures do not recede as expected. The decision to introduce new liquidity management instruments is encouraging, as it will improve monetary policy transmission and make the inflation targeting framework more effective”, he said.