The Government of Ghana is considering a debt operation to alleviate the pressures on the national budget and restore debt sustainability.
This will open up financing streams and provide a needed balance of payment support from the International Monetary Fund.
This was contained in a press statement issued by the Ministry of Finance on Thursday, providing an update on the progress of technical work on possible debt operations as part of ongoing negotiations with the International Monetary Fund (IMF or the Fund).
“This update follows statements made on the sides of the presentation of the 2023 budget in Parliament on Thursday 24th November 2022,” it stated.
The press release said details of the different layers of a debt operation, including the terms of principal payments and interest on the public debt, are still being discussed, taking into account principles of debt sustainability and international best practices.
According to the release, all measures would be communicated by the Ministry in due course.
It reiterated the government’s commitment to rolling out a lasting solution to the current economic challenges, with the ultimate goal of restoring macroeconomic stability and anchoring debt sustainability.
Patience Anaadem, ISD