The Ministry of Finance in Ghana has provided clarity on the status of negotiations with external bondholders, stating that while an interim agreement has been reached, further adjustments are necessary to meet the debt sustainability targets outlined by the International Monetary Fund (IMF).
This clarification comes in response to concerns raised by certain economic sectors regarding Ghana’s ability to successfully restructure $13 billion of international bonds with two bondholder groups. The Finance Ministry revealed that negotiations have hit a temporary roadblock as the proposed deal does not currently align with the IMF’s debt sustainability parameters, which are essential for determining a country’s manageable level of debt.
In a statement released on Monday, April 15, the Office of the Finance Minister announced their commitment to continuing negotiations until a revised agreement that meets the IMF’s debt sustainability targets is achieved. The Ministry emphasized the importance of reaching a deal that aligns with these targets to ensure Ghana’s financial stability and long-term economic growth.
