IMF to Inject $3bn into Ghana’s Economy.

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Ghana has reached an agreement with the International Monetary Fund (IMF) for a $3 billion injection into the economy over the next three years.

The staff-level agreement (SLA) for an extended credit facility (ECF) was announced at a press conference attended by representatives from the government and the IMF Mission. On December 5, a domestic debt exchange program was launched to exchange GH137 billion in locally issued cedi bonds for four new bonds maturing between 2027 and 2037.

As efforts to persuade domestic investors to accept the deal continue, Finance Minister Ken Ofori-Atta announced this week that a restructuring of the foreign component would begin.

Prof. Bokpin said the SLA would strengthen the arm of the country as it engaged external creditors on a debt restructuring to bring the stock to sustainable levels.


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