The Ministry of Finance has clarified that 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 reassurance from the Finance Ministry 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.
The Ministry explained that 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.
On Monday, April 15, the Office of the Finance Minister announced their intention to continue negotiations until a deal consistent with IMF debt sustainability targets is reached, via X, formerly known as Twitter.
“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.”
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