The International Monetary Fund has expressed optimism that the Ghana government and the Official Creditor Committee would be reached soon so that the Board of the Fund can sit on Ghana’s program.
This would unlock the $600 million bailout package which is the second tranche of the $3 billion Extended Credit Facility.
Speaking at a press conference, the Director of the IMF’s Communications Department, Julie Kozak said the discussions between the Ghanaian authorities and the Official Creditor Committee are ongoing, and they certainly hope that an agreement can be reached soon so that they can rapidly bring the program to the Board.
The International Monetary Fund (IMF) has stated that Ghana will have access to about $600 million after its Board reviews the country’s program.
Ghana is expected to conclude a debt restructuring agreement with external creditors, particularly China, which has proposed a new cut-off date.
Discussions with the Official Creditor Committee are ongoing to settle on an agreed date for the debt restructuring.
Julie Kozack said the Board can only go ahead to approve the $600 million second tranche funding if the discussions with the external creditors are concluded and the conclusions presented to the Board.
She added that the government’s strong policy and reform commitments under the three-year, $3 billion program with the IMF are starting to bear fruit.
Story by: Osei Akoto / Ahotoronline.com
