{"id":132861,"date":"2023-12-19T13:57:25","date_gmt":"2023-12-19T13:57:25","guid":{"rendered":"https:\/\/www.ghanamma.com\/2023\/12\/19\/bilateral-creditors-close-to-issuing-mou-to-facilitate-imf-board-meeting-on-ghana-world-bank\/"},"modified":"2023-12-19T13:57:25","modified_gmt":"2023-12-19T13:57:25","slug":"bilateral-creditors-close-to-issuing-mou-to-facilitate-imf-board-meeting-on-ghana-world-bank","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2023\/12\/19\/bilateral-creditors-close-to-issuing-mou-to-facilitate-imf-board-meeting-on-ghana-world-bank\/","title":{"rendered":"Bilateral creditors close to issuing MoU to facilitate IMF Board meeting on Ghana \u2013 World Bank \u2013"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Country Director for the World Bank, Pierre Frank Laporte, has disclosed that Ghana\u2019s bilateral creditors are close to \u2018Issuing an Assurance\u2019 aimed at enhancing the country\u2019s position towards clinching an IMF Executive Board approval when it meets on January 11, 2024.<\/p>\n<p>This means that bilateral creditors are nearing an agreement on the terms for Ghana\u2019s debt restructuring programme which form part of conditionalites in securing the second tranche loan disbursement from the IMF.<\/p>\n<p>\u201cAt this point the information that we have is that the Official Creditor Committee is close to reaching a deal with Ghana on its debt restructuring. It is for this reason why the IMF has gone ahead to schedule the January 11, 2024 date,\u201d Laporte is quoted to have said on the PM Express program on JoyNews.<\/p>\n<p>Ghana was expected to meet with the IMF Executive Board in November 2023 with the view of clinching an agreement with bilateral creditors to pave way for the disbursement of the second tranche loan facility of $600 million.<\/p>\n<p>Ghana has so far received the first tranche of the $3 billion IMF Extended Credit Facility (ECF) consisting of $600 million.<\/p>\n<p>Since the economy experienced major headwinds in 2022, the Government of Ghana engaged the IMF for financial assistance on July 1, 2022 to restore macroeconomic stability, support balance of payments and others.<\/p>\n<p>Ghana subsequently secured the first tranche of the $3 billion loan on May 17, 2023 after meeting all conditionalities.<\/p>\n<p>The country\u2019s economy is expected to be under an IMF programme for a 3-year-period.<\/p>\n<p>MA\/NOQ<\/p>\n<p><strong>Source:\u00a0<\/strong>www.ghanaweb.com<\/p>\n<p><!-- AI CONTENT END 1 --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Country Director for the World Bank, Pierre Frank Laporte, has disclosed that Ghana\u2019s bilateral creditors are close to \u2018Issuing an Assurance\u2019 aimed at enhancing the country\u2019s position towards clinching an IMF Executive Board approval when it meets on January 11, 2024. This means that bilateral creditors are nearing an agreement on the terms for Ghana\u2019s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":132862,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-132861","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bilateral creditors close to issuing MoU to facilitate IMF Board meeting on Ghana \u2013 World Bank \u2013 - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2023\/12\/19\/bilateral-creditors-close-to-issuing-mou-to-facilitate-imf-board-meeting-on-ghana-world-bank\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bilateral creditors close to issuing MoU to facilitate IMF Board meeting on Ghana \u2013 World Bank \u2013 - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Country Director for the World Bank, Pierre Frank Laporte, has disclosed that Ghana\u2019s bilateral creditors are close to \u2018Issuing an Assurance\u2019 aimed at enhancing the country\u2019s position towards clinching an IMF Executive Board approval when it meets on January 11, 2024. 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