By: Franklin ASARE-DONKOH
The Ministry of Finance says despite reaching an interim agreement with external bondholders, Ghana still needs to adjust the deal to meet the debt sustainability targets set by the International Monetary Fund (IMF).
The Finance Ministry’s statement comes amid concerns from certain economic sectors that Ghana has not successfully reached an agreement with two bondholder groups to restructure $13 billion of international bonds.
However, according to the Ministry, negotiations have temporarily stalled due to indications from the IMF that the proposed deal does not align with its debt sustainability parameters, which determine the manageable level of debt for a country.
The Office of the Finance Minister announced their intention to continue negotiations until a deal consistent with IMF debt sustainability targets is reached, via its official X handle.
“Update on External Debt Operations: Ghana and Bondholders reached an interim deal, which must still be tweaked to meet IMF debt sustainability targets. We will therefore regroup to continue negotiations until we reach a deal that is consistent with IMF debt sustainability targets,” it reiterated.
