China and the Paris Club have okayed Ghana’s request for support from the International Monetary Fund (IMF), an official statement released today (Friday 12 May 2023) says.
The creditor committee, made up of countries with eligible debt claims on Ghana, is now formally established.
The creditor committee is expected to be co-chaired by China and France, an official statement says.
The said, “The creditor committee examined the macroeconomic and financial situation of Ghana, including its long-term debt sustainability, and its formal request for a debt treatment under the ‘Common Framework for Debt Treatments beyond the DSSI’ endorsed under the Saudi G20 presidency in November 2020, which was also endorsed by the Paris Club.
“The creditor committee supports Ghana’s envisaged IMF upper credit tranche (UCT) program and its swift adoption by the IMF Executive Board to address Ghana’s urgent financing needs. The creditor committee encourages Multilateral Development Banks (MDBs) to maximise their support for Ghana to meet its
long-term financial needs,” the statement said.
