\n
The government has announced that it has reached an agreement with its Official Creditors in restoring debt sustainability in line with the International Monetary Fund (IMF) programme targets.<\/p>\n
The government is seeking to secure the 2nd tranche of the IMF bailout after securing the 1st tranche in 2023.<\/p>\n
The government embarked on a Domestic Debt Exchange Programme (DDEP) in 2023, towards restoring Ghana\u2019s long-term debt sustainability.<\/p>\n
The Ministry of Finance in a statement dated January 12, 2024, explained that the agreement was under the G20 Common Framework, \u2018on a Comprehensive Debt Treatment Beyond the Debt Service Suspension Initiative\u2019.<\/p>\n
The government expressed confidence that the debt treatment, which entails significant flow relief during the programme period, \u2018will allow for the allocation of additional financial resources towards critical public investments\u2019.<\/p>\n
\u201cThe Government of Ghana commends the support and cooperation of its Official Creditors in reaching this agreement, which demonstrates a mutual commitment to restoring debt sustainability in line with the International Monetary Fund (IMF) programme targets. The Government is confident that this debt treatment, which entails significant flow relief during the programme period, will allow for the allocation of additional financial resources towards critical public investments.\u201d<\/p>\n
The Finance Ministry noted that the agreement with the Official Creditors paves the way for IMF Executive Board approval of the first review of the Fund-supported programme.<\/p>\n
This, the Ministry explained, allows for the next tranche of IMF financing of US$600 million to be disbursed.<\/p>\n
The government also expressed hope that the IMF Board Approval will trigger World Bank Board consideration of US$300 million in Development Policy Operation (DPO) financing.<\/p>\n
\u201cThe terms of the agreed debt treatment are expected to be formalised in a Memorandum of Understanding between Ghana and Official Creditors, which will then be implemented through bilateral agreements with each member of the Official Creditor Committee. The Government of Ghana looks forward to further engaging with the Official Creditors to ensure prompt implementation of the agreed terms.<\/p>\n
This agreement with the Official Creditors paves the way for IMF Executive Board approval of the first review of the Fund-supported programme, allowing for the next tranche of IMF financing of US$600 million to be disbursed. The IMF Board Approval should also trigger World Bank Board consideration of US$300 million Development Policy Operation (DPO) financing. In addition, the World Bank is expected to support the Ghana Financial Stability Fund with US$250 million to help address the impact of the Domestic Debt Exchange Programme (DDEP) on the financial sector. These disbursements are key for Ghana\u2019s economic recovery and ambitious reform agenda.\u201d<\/p>\n
\u00a0<\/p>\n
Click to read the statement by the Finance Ministry<\/span><\/p>\n\u2014\u2014\u2013<\/p>\n
Explore the world of impactful news with CitiNewsroom on WhatsApp!<\/p>\n
Click on the link to join the Citi Newsroom channel for curated, meaningful stories tailored just for YOU: https:\/\/whatsapp.com\/channel\/0029VaCYzPRAYlUPudDDe53x<\/strong><\/p>\nNo spams, just the stories that truly matter! \ud83c\udf10\ud83d\udcf0 #StayInformed #CitiNewsroom #CNRDigital<\/p>\n
\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
The government has announced that it has reached an agreement with its Official Creditors in restoring debt sustainability in line with the International Monetary Fund (IMF) programme targets. The government is seeking to secure the 2nd tranche of the IMF bailout after securing the 1st tranche in 2023. The government embarked on a Domestic Debt […]<\/p>\n","protected":false},"author":1,"featured_media":138532,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-138531","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"\n
Govt reaches agreement with Official Creditors on debt treatment - 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\/2024\/01\/12\/govt-reaches-agreement-with-official-creditors-on-debt-treatment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt reaches agreement with Official Creditors on debt treatment - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The government has announced that it has reached an agreement with its Official Creditors in restoring debt sustainability in line with the International Monetary Fund (IMF) programme targets. The government is seeking to secure the 2nd tranche of the IMF bailout after securing the 1st tranche in 2023. The government embarked on a Domestic Debt […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ghanamma.com\/2024\/01\/12\/govt-reaches-agreement-with-official-creditors-on-debt-treatment\/\" \/>\n<meta property=\"og:site_name\" content=\"Ghanamma.com\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-12T21:20:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.ghanamma.com\/2024\/wp-content\/uploads\/2024\/01\/Ofori-Atta-battor.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"530\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Ghana News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ghana News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/01\\\/12\\\/govt-reaches-agreement-with-official-creditors-on-debt-treatment\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/01\\\/12\\\/govt-reaches-agreement-with-official-creditors-on-debt-treatment\\\/\"},\"author\":{\"name\":\"Ghana News\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#\\\/schema\\\/person\\\/c70749f3edfbfcd92d45e933f0fe10b5\"},\"headline\":\"Govt reaches agreement with Official Creditors on debt treatment\",\"datePublished\":\"2024-01-12T21:20:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/01\\\/12\\\/govt-reaches-agreement-with-official-creditors-on-debt-treatment\\\/\"},\"wordCount\":484,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/01\\\/12\\\/govt-reaches-agreement-with-official-creditors-on-debt-treatment\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/Ofori-Atta-battor.png\",\"articleSection\":[\"Local News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/01\\\/12\\\/govt-reaches-agreement-with-official-creditors-on-debt-treatment\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/01\\\/12\\\/govt-reaches-agreement-with-official-creditors-on-debt-treatment\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/01\\\/12\\\/govt-reaches-agreement-with-official-creditors-on-debt-treatment\\\/\",\"name\":\"Govt reaches agreement with Official Creditors on debt treatment - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/01\\\/12\\\/govt-reaches-agreement-with-official-creditors-on-debt-treatment\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/01\\\/12\\\/govt-reaches-agreement-with-official-creditors-on-debt-treatment\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/Ofori-Atta-battor.png\",\"datePublished\":\"2024-01-12T21:20:28+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#\\\/schema\\\/person\\\/c70749f3edfbfcd92d45e933f0fe10b5\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/01\\\/12\\\/govt-reaches-agreement-with-official-creditors-on-debt-treatment\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/01\\\/12\\\/govt-reaches-agreement-with-official-creditors-on-debt-treatment\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/01\\\/12\\\/govt-reaches-agreement-with-official-creditors-on-debt-treatment\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/Ofori-Atta-battor.png\",\"contentUrl\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/Ofori-Atta-battor.png\",\"width\":800,\"height\":530},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/01\\\/12\\\/govt-reaches-agreement-with-official-creditors-on-debt-treatment\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Govt reaches agreement with Official Creditors on debt treatment\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#website\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/\",\"name\":\"Ghanamma.com\",\"description\":\"Ghana mma provides breaking news, top stories in Ghana, Africa, business, entertainment, politics and more.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#\\\/schema\\\/person\\\/c70749f3edfbfcd92d45e933f0fe10b5\",\"name\":\"Ghana News\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"caption\":\"Ghana News\"},\"sameAs\":[\"https:\\\/\\\/www.ghanamma.com\\\/2024\"],\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/author\\\/ghanamma\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Govt reaches agreement with Official Creditors on debt treatment - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2024\/01\/12\/govt-reaches-agreement-with-official-creditors-on-debt-treatment\/","og_locale":"en_US","og_type":"article","og_title":"Govt reaches agreement with Official Creditors on debt treatment - Ghanamma.com","og_description":"The government has announced that it has reached an agreement with its Official Creditors in restoring debt sustainability in line with the International Monetary Fund (IMF) programme targets. The government is seeking to secure the 2nd tranche of the IMF bailout after securing the 1st tranche in 2023. The government embarked on a Domestic Debt […]","og_url":"https:\/\/www.ghanamma.com\/2024\/01\/12\/govt-reaches-agreement-with-official-creditors-on-debt-treatment\/","og_site_name":"Ghanamma.com","article_published_time":"2024-01-12T21:20:28+00:00","og_image":[{"width":800,"height":530,"url":"https:\/\/www.ghanamma.com\/2024\/wp-content\/uploads\/2024\/01\/Ofori-Atta-battor.png","type":"image\/png"}],"author":"Ghana News","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Ghana News","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ghanamma.com\/2024\/01\/12\/govt-reaches-agreement-with-official-creditors-on-debt-treatment\/#article","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2024\/01\/12\/govt-reaches-agreement-with-official-creditors-on-debt-treatment\/"},"author":{"name":"Ghana News","@id":"https:\/\/www.ghanamma.com\/2024\/#\/schema\/person\/c70749f3edfbfcd92d45e933f0fe10b5"},"headline":"Govt reaches agreement with Official Creditors on debt treatment","datePublished":"2024-01-12T21:20:28+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ghanamma.com\/2024\/01\/12\/govt-reaches-agreement-with-official-creditors-on-debt-treatment\/"},"wordCount":484,"commentCount":0,"image":{"@id":"https:\/\/www.ghanamma.com\/2024\/01\/12\/govt-reaches-agreement-with-official-creditors-on-debt-treatment\/#primaryimage"},"thumbnailUrl":"https:\/\/www.ghanamma.com\/2024\/wp-content\/uploads\/2024\/01\/Ofori-Atta-battor.png","articleSection":["Local News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.ghanamma.com\/2024\/01\/12\/govt-reaches-agreement-with-official-creditors-on-debt-treatment\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.ghanamma.com\/2024\/01\/12\/govt-reaches-agreement-with-official-creditors-on-debt-treatment\/","url":"https:\/\/www.ghanamma.com\/2024\/01\/12\/govt-reaches-agreement-with-official-creditors-on-debt-treatment\/","name":"Govt reaches agreement with Official Creditors on debt treatment - Ghanamma.com","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2024\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.ghanamma.com\/2024\/01\/12\/govt-reaches-agreement-with-official-creditors-on-debt-treatment\/#primaryimage"},"image":{"@id":"https:\/\/www.ghanamma.com\/2024\/01\/12\/govt-reaches-agreement-with-official-creditors-on-debt-treatment\/#primaryimage"},"thumbnailUrl":"https:\/\/www.ghanamma.com\/2024\/wp-content\/uploads\/2024\/01\/Ofori-Atta-battor.png","datePublished":"2024-01-12T21:20:28+00:00","author":{"@id":"https:\/\/www.ghanamma.com\/2024\/#\/schema\/person\/c70749f3edfbfcd92d45e933f0fe10b5"},"breadcrumb":{"@id":"https:\/\/www.ghanamma.com\/2024\/01\/12\/govt-reaches-agreement-with-official-creditors-on-debt-treatment\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ghanamma.com\/2024\/01\/12\/govt-reaches-agreement-with-official-creditors-on-debt-treatment\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ghanamma.com\/2024\/01\/12\/govt-reaches-agreement-with-official-creditors-on-debt-treatment\/#primaryimage","url":"https:\/\/www.ghanamma.com\/2024\/wp-content\/uploads\/2024\/01\/Ofori-Atta-battor.png","contentUrl":"https:\/\/www.ghanamma.com\/2024\/wp-content\/uploads\/2024\/01\/Ofori-Atta-battor.png","width":800,"height":530},{"@type":"BreadcrumbList","@id":"https:\/\/www.ghanamma.com\/2024\/01\/12\/govt-reaches-agreement-with-official-creditors-on-debt-treatment\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.ghanamma.com\/2024\/"},{"@type":"ListItem","position":2,"name":"Govt reaches agreement with Official Creditors on debt treatment"}]},{"@type":"WebSite","@id":"https:\/\/www.ghanamma.com\/2024\/#website","url":"https:\/\/www.ghanamma.com\/2024\/","name":"Ghanamma.com","description":"Ghana mma provides breaking news, top stories in Ghana, Africa, business, entertainment, politics and more.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ghanamma.com\/2024\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.ghanamma.com\/2024\/#\/schema\/person\/c70749f3edfbfcd92d45e933f0fe10b5","name":"Ghana News","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","caption":"Ghana News"},"sameAs":["https:\/\/www.ghanamma.com\/2024"],"url":"https:\/\/www.ghanamma.com\/2024\/author\/ghanamma\/"}]}},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/posts\/138531","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/comments?post=138531"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/posts\/138531\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/media\/138532"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/media?parent=138531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/categories?post=138531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/tags?post=138531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}