Ghana is expected to receive its next tranche of IMF funding (US$360 million) despite the lack of a finalized deal with commercial creditors on debt restructuring. This is according to a senior IMF official, Abebe Aemro Selassie.
Key Points:
- Ghana successfully completed a program review, paving the way for the new funds.
- Debt restructuring agreements with all creditors (bilateral, commercial) are still sought, but not a roadblock for the next disbursement.
- Negotiations are ongoing with bilateral creditors and are expected to be successful soon.
- Talks with private creditors (Eurobond holders) are on hold, but the government aims to reach an agreement eventually.
- Debt relief is crucial for Ghana’s financial stability but takes time to negotiate.
Additional Information:
- Ghana aims to reduce debt payments significantly (US$10.5 billion) by 2026.
- The IMF warns of financing challenges faced by many African countries, with Ghana’s case a complex but hopeful example.
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