SDR

Ghana retained its position in Africa as the most indebted country to the International Monetary Fund as the country’s loan to the Fund shot up by 35.3% in the second quarter of 2023. According to the Fund’s Quarterly Finances July-ending 2023, the country’s outstanding loans to the Bretton Wood institution stood at Special Drawing Rights 1.689 billion as of July 31, 2023, equivalent to $2.227 billion. This is $451 million SDR, higher than the 1.246 billion SDR recorded as of April 30, 2023. Ghana received $600 million as a bailout package from the IMF in June 2023 to revive its…