Finance ministry expresses gratitude for securing Paris Club financing assurance for Ghana

This clearance by the Paris Club paves the way for the Fund’s Board approval of a program for Ghana with the expected timeline of May 2023.

A statement was disclosed on Friday, May 12.

“The creditor committee stresses that the Ghanaian authorities are expected to seek from all private creditors and other official bilateral creditors debt treatments on terms at least as favorable as those being considered by the creditor committee, in line with the comparability of treatment principle. 

“Consequently, the creditor committee urges private creditors and other official bilateral creditors to commit without delay to negotiate with Ghana such debt treatments that are crucial to ensure the full effectiveness of the debt treatment for Ghana under the Common Framework,”

Ms. Kristalina Georgiev, Managing Director of the International Monetary Fund (IMF) also welcomed the financing assurances from the Paris Club following the establishment of the Official Creditor Committee co-chaired by China and France.

Meanwhile, the official Twitter handle of the office of the Finance Minister expressed gratitude for the support shown government. 

The IMF reached a staff-level agreement with the Ghanaian authorities on a new arrangement under the Extended Credit Facility.