The government has expressed hope of securing the Paris Club financing assurances within the shortest possible time to enable the 3 billion dollar support from the International Monetary Fund.
This hopeful outlook comes on the heels of the government’s interactions with bilateral and multilateral partners during the IMF and World Bank Spring meetings held in the United States.
Speaking to journalists in Parliament, the Deputy Finance Minister, John Kumah, provided reassurance that negotiations aimed at securing the funds have been productive.
“Ghana is very hopeful, the Minister for Finance just returned from the spring meeting from the US and took the opportunity to meet our bilateral partners and multilateral partners and I can say that we are very hopeful that we will secure the Paris Club financing agreement very soon.”
“I’m unable to give timelines, but I can assure you that discussions are going very well and very soon Ghana will get the good news.”
Meanwhile, Ghana’s hope of securing an IMF board approval is expected to delay owing to prolonged external debt-restructuring negotiations, and the involvement of numerous stakeholders in the process, according to the Economic Intelligence Unit (EIU).
The EIU in its 2023 Country Report on Ghana, stated that it anticipates Ghana to secure restructuring agreements on its public external debt during 2023-24, involving official and private creditors alike.