Pressure mounting on Ghana’s bilateral creditors to agree on debt restructuring plan – Finance Ministry
Pressure is mounting on Ghana’s bilateral creditors to agree to the external debt restructuring plan, Director of Economic Strategy and Research at the Ministry of Finance, Dr. Alhassan Iddrisu, has disclosed.
This is because Ghana has met all the requirements for an agreement to be reached.
Speaking at the PwC 2024 Budget Digest, Director of Economic Strategy and Research at the Ministry of Finance, Dr. Alhassan Iddrisu, hinted Ghana has met all its obligations and waiting on the external creditors.
He added that the 2024 budget was prepared on the back of the ongoing economic programme with the International Monetary Fund (IMF)
“When you look at the agreement we’ve made some progress with the official bilateral creditors on the MoU [Memorandum of Understand] we had earlier with the fund. We have met all the obligations as a country”.
“The 2024 Budget has been prepared on the back of the IMF programme. We have been able to stabilise the currency depreciation and we can see a slowdown in inflation which are all part of the obligations and therefore there is a lot of pressure on the creditors to meet their part of the obligation so we get the MOU for the next stage which is the disbursement,” he stated.
The Executive Board of the International Monetary Fund is expected to meet in December to approve $600 million as the second tranche of funds under its economic support programme.
Source: Ghana News
