ACCRA, Thursday 24th November, 2022 … The Ministry of Finance provides the following 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.
As stated in the Budget Speech by the Honourable Minister for Finance, Ken Ofori-Atta, the Government of Ghana is contemplating a debt operation aimed at alleviating the pressures on the national budget and restoring debt sustainability. This would also open up financing streams and provide needed balance of payment support from the Fund.
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.
All measures will be communicated by the Ministry of Finance in due course.
The Government of Ghana reiterates its commitment to rolling out a lasting solution to the current economic challenges, with the ultimate goal of restoring macroeconomic stability and anchoring debt sustainability.
ISSUED BY THE PUBLIC RELATIONS UNIT
MINISTRY OF FINANCE
THE NEWS EDITOR