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IMF begins analysis of Ghana’s ability to meet debt obligations

Ghana is seeking an IMF programme amid an economic downturn

The government of Ghana commenced discussions with the International Monetary Fund on Monday, September 26, 2022.

According to the government, a comprehensive Debt Sustainability Analysis (DSA) which is a key requirement for securing an IMF-supported program is currently ongoing.

This is a necessary requirement to ensure that Ghana’s debt is on a sustainable path.

A release by the Ministry of Finance on September 26, 2022, said, “The Government of Ghana is putting together a comprehensive post-Covid-19 economic programme which will form the basis for the IMF negotiations. The programme seeks to establish a macro-fiscal path that ensures debt sustainability and macroeconomic stability underpinned by key structural reforms and social protection.”

The IMF mission that arrived in Ghana on September 26, 2022, is currently in talks with the Ministry of Finance and The Bank of Ghana.

“Government remains committed and shall continue to actively engage all stakeholders, both public and private, in a clear and transparent manner as we seek to fast-track this process,” parts of the release read.

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Ghana is seeking at least $3 billion from the Bretton Woods Institution to shore up its reserves and deal with the depreciating cedi and fund its infrastructure projects.

 

Source: www.ghanaweb.com

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