Ghana: Speculation over Ghana’s debt restructuring is premature – IMF

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The International Monetary Fund (IMF) has quashed speculation that Ghana is set to start debt restructuring talks as part of plans to secure a $3 billion loan from the Fund.

According to the Bretton Woods Institution, Ghana’s debt restructuring will depend on the results of its Debt Sustainability Analysis (DSA) report.

IMF communications director Gerry Rice, who revealed this at a press conference in Washington DC, said the DSA report would indicate whether there was a need for debt restructuring in the first place and, if necessary, how this should also be done. which areas would be affected.

“When a country requests financing from the IMF, we assess whether the country’s policies are compatible with debt sustainability as one of our requirements. We still need to do a thorough update of the debt situation. in Ghana through our debt sustainability analysis.

“The latest, I don’t know if it’s helpful, I have the latest DSA here, the debt sustainability analysis. We released it as part of the 2021 Article IV staff report with Ghana and credible implementation of the authority’s medium-term consolidation plan to put debt on a declining path and ensure continued market access,” Mr. Rice stressed.

This, he said, will inform the next line of action as the government and the Fund remain committed to ensuring that no harm is done to the interests of stakeholders as a result of the programme.

Meanwhile, the IMF team is in town to continue formal negotiations with the government for the loan request.

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