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.

"Performance under the IMF-supported program has been generally satisfactory," the fund said in a statement.

On completion of the fund's executive board review at a yet to be scheduled date, Ghana will have access to $360 million in financing, the IMF said.

(Reporting by Alessandra Prentice and Duncan Miriri Editing by Mark Potter)