Ghana receives draft agreement to restructure debts with official creditors – Minister of Finance

Business News for Friday, May 24, 2024



Minister of Finance, Dr. Mohammed Amin Adam Minister of Finance, Dr. Mohammed Amin Adam

The Minister of Finance, Dr. Mohammed Amin Adam, announced that the Government of Ghana has received a draft agreement for the restructuring of external debt with official creditors.

This is expected to pave the way for the disbursement of $360 million from the third tranche of the International Monetary Fund’s rescue package in June this year.

During an update on the economy in Accra on May 24, the Finance Minister stated: “We officially received the draft Memorandum of Understanding from the Official Committee of Creditors on May 23, 2024.

“The government, with the support of our financial and legal advisors, will review it to finalize and sign the agreement with the OCC as soon as possible,” the Finance Minister added.

Ghana intends to restructure its external debt and interest payments by $10.5 billion between 2023 and 2026.

In January this year, the government reached an agreement in principle with official creditors to restructure loans worth $5.4 billion.


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