Ghana is set to resume the payment of debt it owes to Eurobond holders in about two weeks, having completed its $13 billion external debt exchange programme.
International Monetary Fund staff and officials in Ghana have reached an agreement on their third review of the West African country’s $3 billion IMF loan programme, the fund said on Friday.
Meta co-founder Mark Zuckerberg became the second richest person in the world Friday, taking the title from Amazon chairman Jeff Bezos after a strong week of trading for Meta shares, which are up more than 5% this week.
Ghana ranks fourth among ten African countries with the most outstanding debt to the International Monetary Fund, with a total liability of 2.275 billion Special Drawing Rights (SDR), equivalent to approximately $3.068 billion.
Ghana will exit a debt default after the west African nation completed a restructuring of $13bn in US dollar bonds, paving the way for a return to global capital markets almost two years after an economic crisis forced it to suspend debt repayments.
The Treasury bill (T-bill) market is expected to continue experiencing elevated yields, despite a significant policy rate cut by the Bank of Ghana (BoG).
A high powered delegation by the Ghana Armed Forces (GAF), led by the Chief of Defense Staff (CDS), Lieutenant General Thomas Oppong-Peprah, has visited top management of the Ghana Revenue Authority (GRA) to deepen collaborations and explore new areas of cooperation.
Ghana Interbank Payments and Settlement Systems (GhIPSS) has announced the appointments of Clemencia Lila Tetteh as the new Head of Corporate Affairs and Communications, and Ebow Nyamekye Allen-Koufie as new Head, Human Resource and Administration.
Ghana’s economic prospects are increasingly promising, with Fitch Solutions forecasting growth to accelerate from 2.9% in 2023 to a three-year high of 5.5% in 2024.
In a situation where an African country has a large Total IMF Credit Outstanding, it indicates that the government borrowed significant financial resources from the International Monetary Fund (IMF) and is yet to repay.
