IMF tells Ghana to get financing assurances from creditors, partners before Board approval

This was revealed at a news conference in Washington DC, the communications director of the IMF Julie Kozack said the IMF is engaging the Ghanaian Authorities on the bailout request but at the same time seeking assurances from Ghana’s partners.

“Financing assurances from partners and creditors are necessary for presenting the programme request to the IMF’s Executive Board for approval”.

“We’re calling on bilateral creditors to support Ghana’s effort to restore debt sustainability, form an official creditor committee, and deliver the necessary financing assurances as soon as possible”, she opined.

Meanwhile, the government has also pointed out that it is working to present its economic programme by March ending 2023.

The government is yet to meet all the pre-conditions needed before the programme can commence.

In a related development, Ghana’s Finance Minister, Ken Ofori-Atta, has revealed that conversations with China over Ghana’s debt have been positive and encouraging.

“So far we have had very positive and encouraging meetings in China! Looking forward to securing external assurances very soon, even as we pass our outstanding domestic revenue bills back home. Great progress on all fronts,” a tweet on the official Twitter page of the Finance Minister on Friday, March 24 stated.

But China on Thursday, March 23, also stated that it would like to enhance communications with Ghana to seek a proper resolution of Ghana’s debt issue.