Ghana expects IMF loan approval in May

Business Apr, 15 2023

ACCRA: Ghana expects International Monetary Fund’s board to approve $ 3 billion loan in May, Finance Minister Ken Ofori-Atta said in presentation. Embattled West African country secured staff-level agreement with the IMF for $ 3 billion support package in December. But Fund requires bilateral lenders to provide assurances they will restructure its debt as a condition of signing off on loan.

Ofori-Atta said that $ 20 billion of external debt was eligible for restructuring, 66 percent of external debt stock. Of that, $ 5.4 billion in official creditor debt will be restructured.

Published in The Daily National Courier, April, 15 2023

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Daily National Courier is a leading morning English newspaper of twelve pages covering all international and national political developments on 24/7 basis.