IMF calls on bilateral creditors to support Ghana’s effort to restore debt sustainability

The International Monetary Fund (IMF) has reiterated its readiness to grant Ghana the support programme the country is looking to secure.

According to the Fund, the deal will have board-level approval once Ghana secures the necessary financing assurances from partners and creditors.

Responding to a question at a news conference in Washington DC, U.S.A on the status of Ghana’s programme, the Director of Communications at the IMF, Julie Kozack appealed to bilateral creditors to support Ghana’s effort to restore debt sustainability

“Financing assurances from partners and creditors are necessary for presenting the programme request to the IMF’s Executive Board for approval.

“We’re calling on bilateral creditors to support Ghana’s effort to restore debt sustainability, form an official creditor committee, and deliver the necessary financing assurances as soon as possible,” Julie Kozack shared.

Finance Minister Ken Ofori-Atta has been out of the country this whole week. While in China, he has held bilateral talks with officials of the Asian country to seek financial assurances for Ghana’s programme with the International Monetary Fund.

It is all part of efforts by the government to secure a board-level agreement with the IMF for the $3 billion credit facility.

In a post on the social media page of the Finance Ministry, it said the Minister has so far had very positive and encouraging meetings in the Asian country on Ghana’s debt restructuring in a bid to secure a deal with the International Monetary Fund.

“So far had very positive and encouraging meetings in China! Looking forward to securing external assurances very soon, even as we pass our outstanding domestic revenue bills back home. Great progress on all fronts,” a post on the Finance Ministry’s Twitter page said on Friday, March 23.