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INTERNATIONAL MONETARY FUND APPROVES DRAWING BY GHANA

 WASHINGTON, July 14 /PRNewswire/ -- The International Monetary Fund has approved a drawing by Ghana equivalent to special drawing rights (SDR) 47 million (US$66 million) under the compensatory and contingency financing facility (CCFF). The drawing relates to a shortfall in Ghana's export earnings in the 12-month period ended March 1993. The shortfall is attributable largely to a temporary fall in the exported value of cocoa beans and other cocoa products, which mainly reflects a decline in world market prices.
 Ghana's quota in the IMF is SDR 274 million (about US$383 million). Its current outstanding financial obligations to the IMF resulting from past operations and transactions amount to SDR 518 million (about US$724 million).
 -0- 7/14/93
 /CONTACT: International Monetary Fund, External Relations Department, 202-623-7100/


CO: International Monetary Fund ST: District of Columbia IN: FIN SU:

TW-DC -- DC027 -- 1632 07/14/93 17:17 EDT
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Publication:PR Newswire
Date:Jul 14, 1993
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