The Ministry of Finance has confirmed that its officials and that of the Bank of Ghana have commenced a comprehensive debt sustainability analysis with the International Monetary Fund (IMF) for a US$3 billion support programme.
A statement from the Ministry said “the Government of Ghana is putting together a comprehensive post-Covid-19 economic programme which will form the basis for the IMF negotiations”.
“The programme seeks to establish a macro-fiscal path that ensures debt sustainability and macroeconomic stability, underpinned by key structural reforms and social protection,”.
The Ministry added that it is “optimistic about making progress in our discussions.”
The meeting with IMF comes amid concerns that Ghana is about to start talks with domestic bondholders on a restructuring of its local-currency debt.
Professor Peter Quartey, Director of the Institute of Statistical, Social and Economic Research (ISSER), explains that the support from the IMF will enhance investor confidence in venturing into businesses in the country.
Story by Kelvin Danso
