The Ministry of Finance in Ghana has made an appeal to its bilateral creditors to expedite the process of agreeing on the debt relief terms.
This request comes in an effort to assist Ghana in securing the second tranche of the $3 billion International Monetary Fund (IMF) bailout package.
Mr. Ken Ofori-Atta, Ghana's Minister of Finance, expressed his gratitude to the IMF for their vital support in helping Ghana navigate its economic challenges.
The appeal to bilateral creditors comes as part of the ongoing negotiations to finalize the terms for debt relief.
In a tweet, Mr. Ofori-Atta mentioned his meeting with Kristalina Georgieva, the Managing Director of the IMF, where they discussed the recent achievement of a Staff-Level Agreement (SLA) for the first review of Ghana's economic progress.
He emphasized the importance of securing debt relief terms from bilateral creditors as swiftly as possible to further support Ghana's economic recovery.
The IMF is currently awaiting the outcome of Ghana's discussions with its bilateral creditors before releasing the next tranche of the $3 billion facility.
This announcement was made by Kristalina Georgieva in a tweet after her meeting with Ghanaian officials. Ghana's recent SLA with the IMF followed a review of the nation's economic progress since the disbursement of the first tranche of $600 million.
Georgieva congratulated Ghana for successfully securing the staff-level agreement, which marks an important step in the country's economic journey.
Great meeting with @KGeorgieva during the #IMFMeetings. Discussed recent achievement of SLA for first review. Grateful for strong IMF support, and calling on bilateral creditors to agree on debt relief terms as quickly as possible. #GhanaRising pic.twitter.com/XVM0MSqN8h
— Office of the Finance Minister-Ghana (@oofmghana) October 11, 2023
- Reporting by Leticia Osei: Editing by Adewale Adejoke