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Gov’t contemplating debt operation aimed at alleviating pressures on national budget – Finance Minister

By Eric Nana Yaw Kwafo
Headlines Finance Minister, Ken Ofori-Atta
NOV 25, 2022 LISTEN
Finance Minister, Ken Ofori-Atta

The Ministry of Finance has issued a statement to provide an update on the progress of technical work on possible debt operations, as part of ongoing negotiations with the International Monetary Fund (IMF).

According to the Finance Ministry, the Government of Ghana is contemplating a debt operation aimed at alleviating the pressures on the national budget and restoring debt sustainability.

The Ministry notes that this would also open up financing streams and provide a needed balance of payment support from the Fund.

In the release by the Public Relations Unit Ministry of Finance, it says details of the different layers of a debt operation, including the terms of principal payments and interest on the public debt, are still being discussed, taking into account principles of debt sustainability and international best practices.

The Ministry in its release has assured Ghanaians that all measures will be communicated by the Ministry of Finance in due course.

“The Government of Ghana reiterates its commitment to rolling out a lasting solution to the current economic challenges, with the ultimate goal of restoring macroeconomic stability and anchoring debt sustainability,” the release from the Finance Ministry concludes.

Below is a copy of the release:

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Eric Nana Yaw Kwafo
Eric Nana Yaw Kwafo

Journalist

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