Ghana could receive a $3 billion bailout from the International Monetary Fund (IMF) by the end of May 2023, according to Finance Minister Ken Ofori-Atta.
He was speaking to Eurobond investors at an Investors Presentation Forum.
The Minister stated that Ghana has made great progress in debt restructuring and urged external creditors to support the country’s application for an IMF programme.
“We do at this time expect an IMF board approval in May [2023] and contemplate a rapid negotiation of a Memorandum of Understanding (MoU) with our creditors. We have made significant efforts on all fronts. We hope we could reach an agreement in principle with you our Eurobond holders quickly”.
“We understand this is a challenging time for all of you to commit and offer financial support to all of you. But please be assured we are fully committed to you and your advisors to ensure an equitable solution,” he said.
Meanwhile, the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva has expressed optimism that the fund’s Executive Board would grant final approval to Ghana’s bailout request soon.
Speaking to journalists, she indicated that the IMF was pushing the bilateral creditors to quickly provide the financial assurance needed for the board to approve the deal.
By: Rainbowradioonline.com/Ghana
