{"id":139045,"date":"2024-01-15T08:38:54","date_gmt":"2024-01-15T08:38:54","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/01\/15\/government-reaches-agreement-with-official-creditors\/"},"modified":"2024-01-15T08:38:54","modified_gmt":"2024-01-15T08:38:54","slug":"government-reaches-agreement-with-official-creditors","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/01\/15\/government-reaches-agreement-with-official-creditors\/","title":{"rendered":"Government reaches agreement with official creditors \u00a0 \u2013"},"content":{"rendered":"<p><\/p>\n<div>\n<p><strong>The\u00a0Ministry of Finance\u00a0has said that government has reached an\u00a0agreement\u00a0with its Official Creditors under the G20 Common Framework, on a comprehensive Debt Treatment Beyond the Debt Service Suspension Initiative.<\/strong><\/p>\n<p>The Ministry said, this followed the successful completion of the Domestic\u00a0Debt Exchange\u00a0Programme (DDEP) in 2023.<\/p>\n<p>A press release dated January 12, said this development constitutes a significant positive step towards restoring Ghana\u2019s long-term debt sustainability.<\/p>\n<p>\u201cThis agreement with the Official Creditors paves the way for\u00a0IMF\u00a0Executive 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\u00a0World Bank\u00a0Board consideration of US$300 million Development Policy Operation (DPO) financing. In addition, the World\u00a0Bank\u00a0is expected to support the Ghana Financial Stability Fund with USS250 million to help address the impact of the Domestic\u00a0Debt Exchange Programme\u00a0(DDEP) on the financial sector. These disbursements are key for Ghana\u2019s economic recovery and ambitious reform agenda,\u201c portions of the release read.<\/p>\n<p>It said, \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, particularly in healthcare, education, and infrastructure development.\u201d<\/p>\n<p>The Ministry further noted that, \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.\u201d<\/p>\n<p>The Ministry of Finance stressed that, \u00a0\u201cGhana has indeed turned the comer, as evidenced by the: Decline in\u00a0inflation\u00a0to 23.2% in December 2023 from 54.2% in December 2022; Relative strong performance of the Ghana\u00a0cedi\u00a0which reported a marginal depreciation of 7.2% between February and December 2023, compared to 28.4% during the some period in 2022; \u00a0Overall real GDP growth of 2.8% for the first three quarters of 2023, higher than the 2023 initial GOP growth target of 1.5%.\u201d<\/p>\n<p>\u201cThe Government of Ghana remains committed to reaching an agreement with its commercial creditors as soon as possible and takes this opportunity to thank all stakeholders. The Ministry of Finance hereby reiterates its commitment to restoring Ghana\u2019s long-term debt sustainability and strengthening macroeconomic stability,\u201d the press release concluded.<\/p>\n<p>3news.com<\/p>\n<p><!-- AI CONTENT END 1 --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The\u00a0Ministry of Finance\u00a0has said that government has reached an\u00a0agreement\u00a0with its Official Creditors under the G20 Common Framework, on a comprehensive Debt Treatment Beyond the Debt Service Suspension Initiative. The Ministry said, this followed the successful completion of the Domestic\u00a0Debt Exchange\u00a0Programme (DDEP) in 2023. A press release dated January 12, said this development constitutes a significant [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":120585,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-139045","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Government reaches agreement with official creditors \u00a0 \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\/2024\/01\/15\/government-reaches-agreement-with-official-creditors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Government reaches agreement with official creditors \u00a0 \u2013 - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The\u00a0Ministry of Finance\u00a0has said that government has reached an\u00a0agreement\u00a0with its Official Creditors under the G20 Common Framework, on a comprehensive Debt Treatment Beyond the Debt Service Suspension Initiative. The Ministry said, this followed the successful completion of the Domestic\u00a0Debt Exchange\u00a0Programme (DDEP) in 2023. A press release dated January 12, said this development constitutes a significant [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ghanamma.com\/2024\/01\/15\/government-reaches-agreement-with-official-creditors\/\" \/>\n<meta property=\"og:site_name\" content=\"Ghanamma.com\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-15T08:38:54+00:00\" \/>\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\\\/15\\\/government-reaches-agreement-with-official-creditors\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/01\\\/15\\\/government-reaches-agreement-with-official-creditors\\\/\"},\"author\":{\"name\":\"Ghana News\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#\\\/schema\\\/person\\\/c70749f3edfbfcd92d45e933f0fe10b5\"},\"headline\":\"Government reaches agreement with official creditors \u00a0 \u2013\",\"datePublished\":\"2024-01-15T08:38:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/01\\\/15\\\/government-reaches-agreement-with-official-creditors\\\/\"},\"wordCount\":439,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/01\\\/15\\\/government-reaches-agreement-with-official-creditors\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"articleSection\":[\"Business\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/01\\\/15\\\/government-reaches-agreement-with-official-creditors\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/01\\\/15\\\/government-reaches-agreement-with-official-creditors\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/01\\\/15\\\/government-reaches-agreement-with-official-creditors\\\/\",\"name\":\"Government reaches agreement with official creditors \u00a0 \u2013 - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/01\\\/15\\\/government-reaches-agreement-with-official-creditors\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/01\\\/15\\\/government-reaches-agreement-with-official-creditors\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"datePublished\":\"2024-01-15T08:38:54+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#\\\/schema\\\/person\\\/c70749f3edfbfcd92d45e933f0fe10b5\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/01\\\/15\\\/government-reaches-agreement-with-official-creditors\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/01\\\/15\\\/government-reaches-agreement-with-official-creditors\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/01\\\/15\\\/government-reaches-agreement-with-official-creditors\\\/#primaryimage\",\"url\":\"\",\"contentUrl\":\"\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/01\\\/15\\\/government-reaches-agreement-with-official-creditors\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Government reaches agreement with official creditors \u00a0 \u2013\"}]},{\"@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":"Government reaches agreement with official creditors \u00a0 \u2013 - 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\/15\/government-reaches-agreement-with-official-creditors\/","og_locale":"en_US","og_type":"article","og_title":"Government reaches agreement with official creditors \u00a0 \u2013 - Ghanamma.com","og_description":"The\u00a0Ministry of Finance\u00a0has said that government has reached an\u00a0agreement\u00a0with its Official Creditors under the G20 Common Framework, on a comprehensive Debt Treatment Beyond the Debt Service Suspension Initiative. The Ministry said, this followed the successful completion of the Domestic\u00a0Debt Exchange\u00a0Programme (DDEP) in 2023. A press release dated January 12, said this development constitutes a significant [&hellip;]","og_url":"https:\/\/www.ghanamma.com\/2024\/01\/15\/government-reaches-agreement-with-official-creditors\/","og_site_name":"Ghanamma.com","article_published_time":"2024-01-15T08:38:54+00:00","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\/15\/government-reaches-agreement-with-official-creditors\/#article","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2024\/01\/15\/government-reaches-agreement-with-official-creditors\/"},"author":{"name":"Ghana News","@id":"https:\/\/www.ghanamma.com\/2024\/#\/schema\/person\/c70749f3edfbfcd92d45e933f0fe10b5"},"headline":"Government reaches agreement with official creditors \u00a0 \u2013","datePublished":"2024-01-15T08:38:54+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ghanamma.com\/2024\/01\/15\/government-reaches-agreement-with-official-creditors\/"},"wordCount":439,"commentCount":0,"image":{"@id":"https:\/\/www.ghanamma.com\/2024\/01\/15\/government-reaches-agreement-with-official-creditors\/#primaryimage"},"thumbnailUrl":"","articleSection":["Business"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.ghanamma.com\/2024\/01\/15\/government-reaches-agreement-with-official-creditors\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.ghanamma.com\/2024\/01\/15\/government-reaches-agreement-with-official-creditors\/","url":"https:\/\/www.ghanamma.com\/2024\/01\/15\/government-reaches-agreement-with-official-creditors\/","name":"Government reaches agreement with official creditors \u00a0 \u2013 - Ghanamma.com","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2024\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.ghanamma.com\/2024\/01\/15\/government-reaches-agreement-with-official-creditors\/#primaryimage"},"image":{"@id":"https:\/\/www.ghanamma.com\/2024\/01\/15\/government-reaches-agreement-with-official-creditors\/#primaryimage"},"thumbnailUrl":"","datePublished":"2024-01-15T08:38:54+00:00","author":{"@id":"https:\/\/www.ghanamma.com\/2024\/#\/schema\/person\/c70749f3edfbfcd92d45e933f0fe10b5"},"breadcrumb":{"@id":"https:\/\/www.ghanamma.com\/2024\/01\/15\/government-reaches-agreement-with-official-creditors\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ghanamma.com\/2024\/01\/15\/government-reaches-agreement-with-official-creditors\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ghanamma.com\/2024\/01\/15\/government-reaches-agreement-with-official-creditors\/#primaryimage","url":"","contentUrl":""},{"@type":"BreadcrumbList","@id":"https:\/\/www.ghanamma.com\/2024\/01\/15\/government-reaches-agreement-with-official-creditors\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.ghanamma.com\/2024\/"},{"@type":"ListItem","position":2,"name":"Government reaches agreement with official creditors \u00a0 \u2013"}]},{"@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\/139045","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=139045"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/posts\/139045\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/media?parent=139045"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/categories?post=139045"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/tags?post=139045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}