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Vol 65 No 3

Published 1st February 2024


Cash flows in but debt talks drag on

The treasury has received $600 million in vital IMF funds but doubts persist on a deal with creditors before election campaigning starts

At the start of a crucial election year, President Nana Addo Dankwa Akufo-Addo's embattled government has some reasons to be cheerful following confirmation on 12 January by the Ministry of Finance, the IMF and World Bank of an 'agreement-in-principle' between Ghana and the China- and France-chaired Official Creditor Committee (OCC), on restructuring US$5.4 billion of Ghana's external bilateral debts. The government has since received the second $600 million tranche under the country's $3bn Extended Credit Facility (ECF) with the IMF – leaving $1.8bn to be distributed in five $360m chunks by mid-2026.

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