Ghana’s Bilateral Creditors Set To Clear Way For $3bn IMF Bailout

Ghana’s Bilateral Creditors Set To Clear Way For $3bn IMF Bailout

Ghana’s Bilateral Creditors Set To Clear Way For $3bn IMF Bailout

Ghana hopes to take a big step towards restructuring its $58bn-worth of debt this week, with its bilateral creditors meeting on Tuesday to discuss whether to provide enough relief to unlock a $3bn IMF bailout. Ghana owes $5.5bn to foreign governments and their state banks. Ken Ofori-Atta, finance minister, said he had “hope” those bilateral creditors would consent to enough debt relief to enable the country to tap an IMF loan package agreed upon last year. “We hope on April 11 the Paris Club will meet with China present to provide financing assurances to the IMF,” he told the Financial…
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