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Debt restructuring: Ghana reaches an agreement with its official creditors

14/06/2024
Source : ORISHAS-FINANCE
Categories: Economy/Forex

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On Wednesday June 12, 2024, the Ghanaian government announced that it had reached an agreement with its official creditors. In particular, the new agreement should allow him to receive $360 million from FMI .

Dans un communiqué, le gouvernement ghanéen a annoncé avoir “le plaisir to announce that an agreement has been reached for a memorandum of understanding with the Committee of Official Creditors concerning debt treatment agreed in January 2024. This memorandum formalizes the agreement in principle reached in January and marks a crucial step in the process of restoring Ghana's debt sustainability.” According to the document, “the financial terms of the agreement remain unchanged and provide significant debt service relief during the period of the program supported by the FMI , allowing financial resources to be directed to critical sectors such as infrastructure, health and education.” The new agreement should pave the way for the approval by the board FMI of directors of the payment of a new loan installment of $360 million under an assistance program worth a total of $3 billion that Accra obtained from the institution.

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