Finance Minister Dr. Mohammed Amin Adam has revealed that the Official Creditor Committee has circulated a preliminary document outlining Ghana’s debt restructuring plan to its members for assessment.
Speaking during a press conference at the IMF/World Bank Spring Meetings in Washington DC, Dr. Amin Adam disclosed that once the committee finalizes the document and shares it with Ghanaian authorities, an agreement can be reached.
The IMF is not requiring a finalized deal from bilateral creditors before proceeding to its board; instead, it seeks consensus on the memorandum of understanding (MOU) wording, which will suffice for the IMF board’s consideration.
Dr. Amin Adam expressed optimism about fulfilling all conditions necessary for IMF board approval by June, emphasizing Ghana’s commitment to meeting program objectives.
The IMF has praised Ghana’s program performance, forecasting a single-digit inflation rate of 8% and a growth rate of 4.4% by the end of 2025, aligning with government targets and demonstrating economic resilience amidst global challenges.
Source: Ghanaweb