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IMF and Ghana reach staff-level deal on $3-billion loan programme review


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IMF and Ghana reach staff-level deal on $3-billion loan programme review

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4th October 2024

By: Reuters

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The International Monetary Fund (IMF) and Ghanaian authorities have reached an agreement on a third review of the West African country's $3-billion loan programme, the IMF said in a statement on Friday.

The West African gold and cocoa producer is nearing completion of a debt restructuring process under the G20's Common Framework initiative after it defaulted on most of its $30-billion international debt in 2022.

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"Performance under the IMF-supported programme has been generally satisfactory," the fund said in a statement.

On completion of the fund's executive board review at a yet to be scheduled date, Ghana will have access to $360-million in financing, the IMF said.

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