The Ministry of Finance has announced a suspension of all payments of external debts.
A statement issued by the Ministry said the suspension would be in place pending an orderly restructuring of the affected obligations.
The suspension would not affect payments on Ghana’s multilateral debt, new debts (whether multilateral or otherwise) contracted after December 19, 2022, or debts related to certain short-term trade facilities, according to a statement issued today, December 19, 2022.
“We are also evaluating certain specific debts related to projects with the highest socio-economic impact for Ghana which may have to be excluded. This suspension is an interim emergency measure pending future agreements with all relevant creditors,” parts of the statement read.